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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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What are considered the ideal conditions for a seller's market?
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In a seller's market, prices are firm and good houses are sold before advertised or as soon as they show up in the MLS. |
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Pat Wilson-Thomas, CRS Elite Real Estate Professionals 12818 Hwy 105 W Suite 2 - J Conroe, TX 77304 Direct: 936-524-0009 Office: 936-524-0009 Fax: 936-647-2749 Email: PatWilson@NUMBER1EXPERT.com
Pat Wilson - Thomas, CRS is the NUMBER1EXPERT™ in the Lake Conroe area. She has a proven track record that few agents can match! She brings Knowledge, Commitment, and Trust that surpasses the normal Realtor. Pat Wilson is a professional that has your best interest in mind. 
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