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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.
Barbara Swain Keller Williams Mid Willamette 815 NW 9th Street, Suite L-195 Corvallis, OR 97330 Office: 541-753-7770 Cell: 541 602-0816 Email: bswain@barbaraswain.com
As a top Realtor in the Corvallis area clients appreciate Barbara's honest and straightforward approach. Barara is recognized for her integrity, extensive knowledge of the area and real estate, professionalism and excellent negotiation skills. Contact Barbara today!
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