Good fathers are paramount to successful real estate transactions for many "kids" across the country. Dads want nothing but the best for their children, regardless of age, and that means providing tips for financial success among other things.
Many fathers are responsible for bringing the American Dream to fruition on behalf of their children. They desire for their children and grandchildren to live in comfort and safety, therefore many dads are quite generous in assisting with down payments.
Dads will gift money, loan money, co-sign mortgages, help pack and sometimes even drive the moving truck for their children. Some fathers even go as far as to subsidize house payments for a while until their children finish school or achieve
a pay raise. Others opt for equity share agreements, allowing Dad to own 50% of a home and the child(ren) to own the remaining fifty percent as an owner occupant.
In other circumstances, fathers will sell their homes
to their children in order for them to assume lower property tax rates under
a county's parent-to-child exemption at the local tax assessor's office. This allows for a home to remain in the family.
Fathers make for excellent teachers and are helpful in instructing their children as to go about purchasing a home and building equity. Dads are crucial when it comes to home repairs, maintenance, remodeling projects and landscaping extravaganzas.
At the end of the day, there isn't much a dad would not do for his children. Dads raise us to be responsible, self-sufficient individuals, they help us to build strong character and integrity and teach us to be productive members of society.
They dream with us, share with us and forgive our mistakes along the way. Children witness the successes and triumphs of "Dad" and welcome the greatest investments that only a Father can make in attending to his children in all stages
Happy Fathers Day, Dad!