Gift Funds

Learn how to simplify the process of using gift funds for your home purchase. The key is to keep the gift funds in the donor's account until you're under contract. Once the contract is in place, the donor can send the money directly to the escrow account, making the paperwork straightforward. This avoids the hassle of dealing with extensive bank statements and seasoning periods. Remember, gift funds should come from close family members.

Key Takeaways:

• Timing: Keep gift funds in the donor's account until under contract.
• Simplified Process: Direct transfer to escrow minimizes paperwork.
• Family-Only: Gift funds must come from close relatives.

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