Mother advances money to be able to buy a house. Problems?

  • Erstellt am 2017-03-09 16:32:56

patrikmueller

2017-03-09 16:32:56
  • #1
Hello everyone,

we want to buy a house. Since the interest in the house is very high, the decision will be made by whoever can present secured financing first.

Well, we would have no problem getting a loan at all, but as is known, it takes 1-2 days for the bank's written approval to arrive. However, my mother could provide the money immediately.
Afterwards, we could calmly look for a loan from the banks and then pay her back.

Apparently, this is no problem – at least that's what the banks tell me. Nevertheless, I want to make sure that no problems arise for us or my mother. I have no idea whether the state or someone else gets involved in such transactions and what else has to be considered.

Looking forward to your helpful tips & advice
Patrik
 

Musketier

2017-03-09 16:48:32
  • #2
Does the mother just have the amount of money lying around in the account? Then I would check the investment strategy.

Is the money actually supposed to be provided as a loan and then refinanced by the bank loan, or is the money only supposed to serve as proof of financing?

If it is supposed to be provided for now, I would make a loan agreement with the mother for a short-term loan for security, to ensure that it is not a gift. This approach could at most be problematic regarding the recognition of the subsequent loan by the tax office in the case of renting.
This is only an amateur opinion and not legal advice.

PS: What is a Lasucultator
 

ypg

2017-03-09 16:52:53
  • #3
Definitely, as writes: make a contract for a private loan. You just have to observe common contract rules between private individuals.
 

Alex85

2017-03-09 18:09:32
  • #4
The OP wrote that it was about proof to the seller that the purchase is financeable. To bridge the gap until the bank's financing approval is available (which comes faster than an appointment with the notary can take place). Printout of mother's bank statement, preferably without the name on it, hand it to the seller and that's it. That a bank later finances it anyway, he will not notice or it is then also uninteresting.
 

Similar topics
03.05.2011KfW loan okay or is there a cheaper option?10
19.02.2013Is a Riester loan useful for my case?13
28.04.2013U-values heat loss according to regulation, comparison for KfW85 loan12
30.04.2013Loan with an interest rate of 2.51% - Tips for financing22
02.09.2013Loan of EUR 500,000 - possible with monthly income?17
16.02.2015Pre-financing Schwäbisch Hall Wohnriester savings contract/variable loan16
16.02.2015Property purchased - Is financing/loan for house possible?13
07.04.2015Loans and Construction Credit - Creating KfW Usage Evidence11
19.05.2016Combination Loan BSS vs. Annuity Loan19
12.11.2016Bridge financing / variable loan11
24.04.2017First variable loan, then construction financing?11
17.09.2018No special repayments possible with loans. How to save money?15
16.11.2018Combination of building savings bank, KFW and loan10
23.04.2019Replacement of installment loans by subordinated loan28
21.06.2019Larger loan with only 5 years interest fixation14
31.07.2019Is a bullet loan and ETF currently worth considering?27
29.07.2019Bullet loans & annuity loans combined - sensible?28
04.09.2019Avoid commitment interest - 100% loan payout13
15.02.2020KfW as a bullet loan with a 4-year term11

Oben