Buy a house with friends. Or enemies.

Question: Im an accountant with a couple of clients in the same predicament. They all have adult children that want to get into the housing market early. And with historically low interest rates and the first homebuyers grant about to come to an end, they want to do it quickly. The problem? The children cant afford to purchase the property by themselves. So they purchase with friends, siblings or parents. Young ones can be a tad flighty you dont want their mates to abandon the ship. And family well, you dont want a commercial transaction breaking it up. Ive seen it happen and it isnt pretty. I recommend that all my clients have proper agreements in place. The last one a lawyer prepared took over 3 months and ended costing $3,244. Do you have one that I can forward onto them?

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News & Politics

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• Buy
• house
• property
• rent
• friend
• friends
• family
• agreement
• contract
• deed
• certainty
• together
• home

[ForPropertyInvestors]

Very good one!