As parents, you can provide a significant down payment, free of taxation. Individuals may gift up to $13,000 per year, so two parents making gifts to their child can give a total of $26,000 in one year without paying gift tax!

 

Above and beyond the outright gift, you may loan your family money, as long as you charge a minimum interest rate, which is currently very low. Then you can make your gifts each year, and your child's family can use the gifts to repay the loan.

 

If neither of these options is attractive, you could purchase the home yourself and then set up a Qualified Personal Residence Trust (QPRT), with the home passing to the children at the end of an established term, tax free. You will need to consult with your financial advisor and employ an attorney to handle this kind of transaction. They'll be more than happy to help you help your family.

 

If you know somebody who is having trouble making their house payment, have them call the Kathy Henne Team. Kathy has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed training in foreclosure avoidance and short sales. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

 

Interested in bank-owned homes? Go to www.piquabankownedhomes.com to receive a FREE list of all bank-owned propert

Real Estate For Sale In Piqua Area

Homes For Sale In Piqua, Ohio

1125 Washington, Piqua, 3 bed, 2 bath, 1500 sq ft, $95,000

1026 North, Piqua, 4 bed, 1 bath, 1440 sq ft, $40,000

128 Linden, Piqua, 2 bed, 1 bath, 688 sq ft, $15,000

423 Gordon, Piqua, 3 bed, 2 bath, 1380 sq ft, $52,000

723 Gordon, Piqua, 3 bed, 1 bath, 972 sq ft, $50,000

9010 Looney, Piqua, 3 bed, 2 bath, 2236 sq ft, $117,500

612 Scott, Troy, 4 bed, 2 bath, 1973 sq ft, $81,000

1011 Plymouth, Piqua 4 bed, 2 bath, $85,000

For more information on these homes or any homes in Miami or Shelby counties, please contact Kathy Henne @ 937-778-3961 or Kathy@KathyHenneTeam.com

Recent Piqua Area Real Estate Sales

The local Multiple Listing Service lists these Piqua area homes as sold with real estate agents.

5250 Troy Sidney, Piqua, 4 bed, 2 bath, list price $79,900, sale price $79,900, 3 days on market

10030 N Co Rd 25A, Piqua, 3 bed, 1.5 bath, original list price $124,900, list price at sale $109,900, sale price $97,000, 231 days on market

1701 Cambridge, Piqua, 3 bed, 1 bath, list price $65,900, sale price $65,900, 4 days on market

1017 Elm, Piqua, 2 bed, 1 bath, list price $69,900, sale price $67,500, 35 days on market

222 First, Piqua, 2 bed, 1 bath, original list price $23,000, list price at sale $14,900, sale price 11,000

1003 Young, Piqua, 3 bed, 1.5 bath, original list price $79,900, list price at sale $74,900, sale price $74,900, 123 days on market

316 Brentwood, Piqua, 3 bed, 1 bath, list price $76,900, sale price $67,000, 116 days on market

1240 Severs, Piqua, 3 bed, 1.5 bath, list price $85,000, sale price $85,000, 38 days on market

209 Garnsey, Piqua, 3 bed, 1 bath, original list price $36,000, list price at sale $21,600, sale price $16,850, 132 days on market

4035 St Rt 185, Piqua, 3 bed, 1.5 bath, original list price $130,000, list price at sale $117,000, sale price $113,500, 217 days on market

815 Mote, Piqua, 3 bed, 2 bath, original list price $169,900, list price at sale $159,000, sale price $135,000, 218 days on market

914 Gordon, Piqua, 3 bed, 1 bath, list price $64,900, sale price $64,900, 55 days on market

611 Boone, Piqua, 3 bed, 1 bath, list price $109,900, sale price $109,000, 42 days on market

412 Broadway, Piqua, 4 bed, 1 bath, original list price $78,500, list price at sale $54,900, sale price $55,000, 136 days on market

910 Young, Piqua, 2 bed, 1 bath, list price $55,000, sale price $50,000, 46 days on market

3013 Chinook, Piqua, 3 bed, 2 bath, original list price $160,000, list price at sale $155,000, sale price $150,000, 111 days on market

634 Gordon, Piqua, 3 bed, 1 bath, original list price $58,000, list price at sale $50,000, sale price $42,000, 129 days on market

1105 Scudder, Piqua, 3 bed, 1 bath, original list price $84,900, list price at sale $79,900, sale price $75,000, 77 days on market

608 Greene, Piqua, 4 bed, 2 bath, list price $87,615, sale price $89,000, 20 days on market

621 Gordon, Piqua, 2 bed, 1 bath, list price $56,900, sale price $56,900, 74 days on market

1107 Young, Piqua, 3 bed, 1 bath, original list price $75,000, list price at sale $60,000, sale price $60,000, 149 days on market

823 Caldwell, Piqua, 3 bed, 1 bath, original list price $42,000, list price at sale $33,600, sale price $25,000, 70 days on market

723 Gordon, Piqua, 3 bed, 1 bath, list price $50,000, sale price $48,000, 12 days on market

2944 Seminole, Piqua, 3 bed, 2 bath, list price $169,900, sale price $165,000, 286 days on market

800 Caribou, Piqua, 3 bed, 2 bath, original list price $229,000, list price at sale $198,900, sale price $143,000, 385 days on market

Keep in mind that the seller may have paid for the buyer's closing costs which reflect in the sales price.  For more information on these Piqua area homes or any homes in Miami or Shelby counties, please contact Kathy Henne at 937-778-3961 or Kathy@KathyHenneTeam.com

When you receive an Offer To Purchase, you are likely to focus on the price. You might be ecstatic over a close to full price offer, but you should be aware how "contingencies" could affect the likelihood of your successful sale.

 

Almost every offer has a mortgage contingency, stating that the buyer will be able to secure financing for a specific loan. Make sure these factors are realistic. A buyer seeking a 30-year loan at 4% interest with no points maybe hedging their bets if your agent advises you that these loans are typically written at 6% interest with 2 points. Unrealistic terms can allow the buyer to back out if they get cold feet.

 

Another sticky contingency more common these days is when a buyer states that they must sell their home before they can finalize the purchase of yours. There has to be a realistic time limit, so the buyer doesn't tie up your listing.

 

It's wise to respond with a "kick-out" clause that allows you to keep your home on the market while the buyers try to find a buyer for their home, offering them a 24 hour period to release their contingency if you decide to accept an offer from another buyer.

 

These two examples are just the tip of the iceberg, so sit and discuss each contingency with your agent before making your decision when your receive your Offer To Purchase.