Ricardo  Mello, Manhattan & Miami Real Estate Agent (Manhattan Miami Real Estate)

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Rainmaker
485,238
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Not where the parents are paying for the kid's house. I sometimes deal with younger couples who will get a deal going through me & then they'll say "We just want to run my Mom & Dad through, can you show it to us again". Mom & Dad are usually supportive, most of the time. 

Jun 12, 2018 05:13 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Sometimes they are pushing and coaching the child to get out on their own.

Jun 12, 2018 05:14 PM
Rainmaker
873,140
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Yes I do.  Just had clients that their parent are buying their 30 years old daughter, husband, and child a 1.4 million dollar home and paying cash.

Jun 12, 2018 08:51 PM
Rainmaker
3,125,600
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I have. Each transaction is unique in some aspect or another. 

Jun 12, 2018 07:02 PM
Rainmaker
4,702,604
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I provided down payments, closing cost and all inspection fees but I put a second mortgage on the property....the property was in their names.... the first mortgage was theirs.....  when they sold or refinanced, I ws paid.... I have one still outstanding.... 5% vig on it, too!!!

Jun 12, 2018 05:19 PM
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Mine are buying for their children attending one of our local universities. They put the property in the parents' names. Some sell after their children graduate, others keep the property as investment property.

Jun 12, 2018 09:00 PM
Rainmaker
524,519
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Nothing's ever good enough for their baby.

Jun 12, 2018 07:04 PM
Rainmaker
519,131
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

The parents I have dealt with are buying condo's for their kids attending university here, it is bought in the parents name.

 

Jun 12, 2018 06:17 PM
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Thus far the parents who bought homes for their kids, in most cases, put all names on the deed. Some are just buying a condo for the kid to live in while at school, then will become an investment and then it's in the parent's name only, or a trust.

Jun 12, 2018 06:02 PM
Ambassador
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Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

       Parents of FSU students buy a house, all the names go on the Deed.  The nickname is "Kiddie Condo".   They rent out the extra bedrooms to cover the mortgage (or generate income).  When Junior graduates, they have 4 or 5 years equity in the house.

Jun 12, 2018 05:41 PM
Rainmaker
360,753
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

We have had parents purchase property for their children, but they keep the title themselves. Or purchase it with their children title in both names.

Jun 12, 2018 05:40 PM
Rainmaker
505,402
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

I have. In once case the parents just put it in their name and let the kids live in it rent free. In another they were buying a place for their kids in college and they were going to collect rent from roommates. 

Jun 12, 2018 05:30 PM
Rainmaker
2,815,194
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Amazingly enough, in 25 years I've never had a parent buy for a child. I've had grown kids buy for parents however.

Jun 12, 2018 05:21 PM
Rainmaker
416,602
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Numerous clients have come to me with parents attached ... sometimes just for the moral support ... other times to give advice - and once where the parents bought the house and the kids rented back.  I've had a few times when the parents got in the way of the kids doing what they really wanted, and some ended with the buyers letting the parents know that they could do this on their own.  Many different experiences!  Gotta love it!

Jun 12, 2018 09:00 PM
Rainmaker
87,370
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

Yes, and every time it is different and their choice. 

Jun 12, 2018 09:00 PM
Rainmaker
948,518
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

All of the above with parents buying in their names most commonly and in the kids names least likely.

Jun 12, 2018 08:05 PM
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Yes and it is usually they either pay cash or obtain finanicng in their names.

Jun 12, 2018 07:43 PM
Rainmaker
888,530
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Often!

UCSD parents are my bread & butter.

They keep the property in their name (parents').

Jun 12, 2018 07:34 PM
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I used to and it is one of the reason I sell investments only.

Jun 12, 2018 05:22 PM
Rainmaker
2,931,459
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

It has happen to me twice in 21 years.

Jun 18, 2018 09:38 AM
Rainmaker
3,931,317
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have had the parents having a decision or financial interest in the kids' purchase.

Jun 16, 2018 07:55 AM
Rainmaker
1,485,450
Sandy Padula and Norm Padula, JD, GRI
Realty National - Carlsbad, CA
Presence, Persistence & Perseverance

We have in the past and the titling is dependent on the strength of the relations with the parties

Jun 15, 2018 04:21 AM
Rainmaker
1,433,583
Yolanda Cordova-Gilbert
Richmond, TX

I have dealt with many parents over the years as the kids are making a big purchase I only had one that was an Ahole but the deal went through as others have said they are usually supportive.

Jun 14, 2018 03:35 PM
Rainer
86,414
Mike Kelly,CRS,CIPS
The MJKelly Team - Santa Rosa, CA
"One of Sonoma County's Natural Resources"

Yes and sometimes it maddening! I had a young gal who dripped of money, Gucci bag, baubles hanging from her wrist which cost about as much as a real good year for a Realtor. She was Taiwanese and her Father made sure his baby got whatever she wanted. EXCEPT for the house he was going to buy her, end of a cul-de-sac, door opened to a staircase going right up to the second story--he drove up, saw her standing in the doorway, honked his horn and said NO! Bad Feng Shui! 

Jun 13, 2018 08:42 PM
Rainmaker
524,094
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

I have worked many children that the parents are helping with the finances and others that need their parents approval.  It is an obstacle but great to see families working together.  Parents are usually negative along the way.

Jun 13, 2018 06:44 PM
Rainmaker
2,721,125
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Yes, occasionally.  Each situation is unique to the parties.

Jun 13, 2018 10:32 AM
Rainmaker
1,178,787
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Not too often.  More likely to see them giving a substantial "gift" to their kids towards the downpayment.

Jun 13, 2018 09:06 AM
Rainmaker
4,144,187
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

It happens in college towns.  One of our clients used to specialize in doing that at a particular University.  She was a graduate and a member of the alumni organization. She had many leads as a result.  A 

Jun 13, 2018 09:03 AM
Rainmaker
670,748
Richard Bazinet /MBA, CRS, ABR
WestUSA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Yes.

Jun 13, 2018 08:58 AM
Rainmaker
708,416
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I have had parents accompanying young adult children and maybe helping financially to some extent, but not with any specific financial vehicles. Always complicated when family gets involved!

Jun 13, 2018 07:14 AM
Rainmaker
718,196
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

The caption with the image reads "Non-US parent buying property for child."

This adds a true dimension that must be discussed with the parent. The real question is their long term intent.  Long term plans benefit from having the real names on the deed. They may find buying a SUBWAY franchise to be their best option.

Jun 13, 2018 06:42 AM
Ambassador
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Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Not dealing with parents buying but advising. Always interesting. 

Jun 13, 2018 06:32 AM
Rainmaker
4,751,550
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I usually suggest they speak to their attorney.

Jun 13, 2018 06:11 AM
Rainmaker
2,874,146
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I have. In the last couple of years parents buying condos for their children who will attend college here. 

Jun 13, 2018 05:41 AM
Rainmaker
5,073,082
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

The way title is taken is up to the parents.

It is often a mistake to be a co-borrower. 

Jun 13, 2018 05:37 AM
Rainmaker
3,044,733
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Rarely

Jun 13, 2018 05:08 AM
Rainmaker
3,027,274
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Usually under the kids name but have used trusts where the benenficial interst was transferred over time!

Jun 13, 2018 04:53 AM
Rainmaker
4,410,822
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have had co signers.

Jun 13, 2018 03:36 AM
Rainmaker
610,543
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I had a listing a while back that was purchased, in cash - over $1Mil - by a Chinese family to be the home of their daughter who was soon to be wed.

It was interesting when the buyer's agent provided me with a proof of funds statement written in Chinese characters. One of out Team members translated for me. No problemo!

As I recall, the purchase was made in the names of the parents.

Jun 12, 2018 10:44 PM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Ricardo Mello - not as often as it used to be.

Jun 12, 2018 10:24 PM
Ambassador
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Under the kids names mostly!

Jun 12, 2018 10:21 PM
Rainer
301,918
Melissa Jackson
Citiwide Alliance Realty - Weatherford, TX
Helping You Make The Right Move

Recently we sold to parents. They purchased for their 34 year old son. We had the loan in son's name for a few weeks then changed to parents due to a discussion with parents bank. They needed to make the purchase and will rent to him.  They paid cash.

Jun 12, 2018 10:18 PM