Mahalo, No...as long as you "purchase" the property from her there is no gift tax on equity. The lender will go off the purchase price and not the apprised value as well so you need to come up with a down payment for the 200K plus closing cost. This is considered a "arms length" transaction and has some different guidelines than a traditional purchase. You can also look at taking the mortgage over making six months of payments in a refinance situation. Where the down payment and closing cost would not need to be paid of pocket. You contact me via my profile to answer more questions.
It's impossible for Trulia to monitor millions of listings. It really is just a big database of info. If this is a scam, you can "FLAG" the listing as a scam, and Trulia moderators will remove it.... more
The best thing to do is to FLAG the listing and the Trulia staff will look into it and remove it. Go to the listing. Look for the menu item MORE, click on that then on the dropdown menu click FLAG... more
Mililani is a wonderful community; I have been a resident here since 1976. The inventory in Mililani is dropping, as it is such a desireable place in which to live. Occasionally there are properties available that are exceptional values because of pricing and/or Seller's motivated terms. When you are ready to start looking, let me know; I will be happy to assist you.... more