| Why does homebuyer credit exclude sales by parents? I'm trying to understand what reasons the law was written to expressly exclude sales by certain relatives (linearly)? What is the motivation for excluding?
I have home shopped & it makes the most sense for me to buy where I've been living for a number of years which is owned by my parents - at market value. For a few reasons including disablity it's been hard to locate something else, & the local market has an inventory shortage. Plus, costs have gone up & my parents would have to raise the rent to more than I'd pay for a mortgage. I had tried shopping & buying a couple years ago but prices were too high & this crash is the perfect time to buy. It was an investment property for them & they owned several for a long while as their business.
Does anyone have insight? Thanks!! |