Question Details

Airahcaz, Home Owner in Glen Rock, NJ

If a relative sold to another relative, for higher than FMV, say at 600K for a house worth 500K, is there

Asked by Airahcaz, Glen Rock, NJ Wed Aug 13, 2008

anything governing that? I know if there is a mortgage, it would have to appraise for the higher amount, but what if it were an all cash purchase?

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