Couldn’t agree more about the paperwork. I’ve watched a couple of “handshake deals” between relatives turn into full-blown arguments over who said what, especially when money’s involved. Even if everyone trusts each other, memories get fuzzy and expectations shift. I’d add—don’t just rely on a friend to mediate; sometimes it’s worth paying a pro for an hour or two, just to make sure nothing gets missed. It’s not about being paranoid, just realistic. Family or not, things can get weird fast if you’re not careful.
Couldn’t agree more—paperwork is the only thing keeping family sales from turning into soap operas. I’ve seen deals where everyone “remembers” different numbers or payment terms six months later, and suddenly it’s a mess. Even something simple like writing out a payment schedule on a napkin can save you headaches, but honestly, a basic contract is better.
One thing I always tell folks: set clear milestones. Who’s paying what, when does the transfer happen, what if someone changes their mind? Put it all in writing, no matter how awkward it feels in the moment. It’s not about trust, it’s about clarity.
Curious if anyone has dealt with family loans for down payments? That gets even trickier—sometimes people treat it like a gift, other times they want repayment with interest. Did you use a promissory note or just wing it?
