Posted on: 26th May, 2010 01:20 pm
If I should want to give my home to a family that needs one, the house is paid for. what all do I need to do. I want to go through a realator and have the person getting the house sign papers through them. I would pay the closing cost? or would there be any.
We are in Texas
We are in Texas
Hi txperson,
I guess you want to gift the property to that needy family. You can use a quit claim deed and transfer the property to that family. You won't be liable for any closing costs as you will not be taking out a mortgage on it.
If you are selling the property to that family, then they will have to take out a mortgage and pay the closing costs.
I guess you want to gift the property to that needy family. You can use a quit claim deed and transfer the property to that family. You won't be liable for any closing costs as you will not be taking out a mortgage on it.
If you are selling the property to that family, then they will have to take out a mortgage and pay the closing costs.