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Financing Your Home >Buying Cooperatively
Today it is becoming quite common for friends to pool their resources to buy a larger home than either of them could afford alone. Some builders cater specifically to this group of buyers by offering homes with two "master suites" instead of the more typical room arrangement. If you are considering a joint purchase, you and your buying partner should outline clearly your agreements about your shares in the down payment, the monthly mortgage payments, and what you will do if one of you decides to move out.
Before committing to a property, sit down with a real estate professional to discuss your options. Should you take possession as joint tenants? Will you have a 50/50 interest in the property, or should the interest be adjusted to reflect each person's share of the down payment or the monthly mortgage payment? Your agreements with your buying partner should be clearly expressed in writing.
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Whose mansion sold for about $2 million after just one day on the market?
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Soon after the death of George Burns his home was put on the market; the home sold in 24 hours.
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The Jim Buff Team
Keller Williams Professionals Realty
86 Asheland Avenue
Asheville, NC 28801
Tel: 828-771-2310
Toll Free: 877-221-7253 ext 2310
Fax: 828-771-2311
Email: email@jimbuff.com
Jim Buff specializes in North Carolina Real Estate and Luxury Homes, Land and Condo sales. Put success on your side, call Jim!
   
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