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Buying Cooperatively

June 7, 2017

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.

To Learn More, Contact Bill Cullin Today.

Call or text Bill Cullin at 302-841-7147 today!

Bill Cullin, REALTOR®

Your Real Estate Source at the Delaware Beaches

Email: Bill.Cullin@LNF.com

Websites:
www.DelawareBeachRE.com
www.BeachDelaware.com
www.TheHenlopen.com

Direct: 302-841-7147
Office: 302-227-2541
Toll Free: 1-800-462-3224, ext. 117
Fax: 302-227-8165

Long & Foster Real Estate, Inc.
37156 Rehoboth Avenue Ext, Suite 5
Rehoboth Beach, Delaware 19971