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Trulia Phoen…, Home Buyer in Phoenix, AZ

How common and ethical are offers of "gifts" in real estate transactions?

Asked by Trulia Phoenix, Phoenix, AZ Thu Mar 14, 2013

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It depends on what is being considered a gift.

For example a closing gift is reasonable.

Something like a basket or gift card or donation in the client's name to a charity.

Now, any form of GIFT with a CSAH value is out of bounds. Giving a "KICK BACK" which is money that changes hands out side of escrow is a BIG NO NO!!!

Kawain Payne, Realtor
0 votes Thank Flag Link Thu Mar 14, 2013
I think "offering" a gift implies that you want to give the gift, but you want to see if it will get the reward you desire. In that case, it seems unethical.
If you are giving a gift as a selfless act, or a "thanks" after the fact when there is nothing to gain, it's ethical and probably encouraged.
1 vote Thank Flag Link Thu Mar 14, 2013
Gifts from whom to whom? This question is vague
0 votes Thank Flag Link Fri Mar 15, 2013
By law we only can a gift of certain dollar amount $25
0 votes Thank Flag Link Fri Mar 15, 2013
With a FHA/VA backed home loan ..... Gift funds (assuming you are speaking about cash and not a item such as an appliance) from a related party is very common and very ethical.

With conforming conventional home loans un-common and ethicial with in the guidelines that are set up with Fannie Mae and Freddie Mac. Gifts for these types of home loans require a much lower loan in ratio to the value of the property. No minium down payment for these types of loans.


Dave Jackson
Loan Officer/Real Estate Asset Planner
Financing Solutions for Arizona Real Estate since 1993
American Financial Lending, Inc.
20860 N. Tatum Blvd, Suite 160
Phoenix, AZ 85050-4277
602 277-3800 w
602 631-9788 f
602 524-2401 c
602 912-9438 h
davej@aflhomeloans.com http://www.aflhomeloans.com
BK # 0910057 NMLS LO ID # 284875
0 votes Thank Flag Link Thu Mar 14, 2013
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