Gifted Mortgage Deposit

LRMaggot

Good evening. My mother and father-in-law have proposed an idea where they sell us their house, and from the equity they would gift us a substantial amount as the deposit towards our purchase of that property. Is this a possibility as the deposit would not be available until the sale is processed?

Thrugelmir

Where are your in-laws proposing to live afterwards? 

LRMaggot

They are planning to move abroad. The plan they've suggested is to give us 70% of the equity as our inheritance and move abroad with the rest.

Thrugelmir

LRMaggot said:

They are planning to move abroad. The plan they've suggested is to give us 70% of the equity as our inheritance and move abroad with the rest.

The idea is feasible. Though the timing might not be good.