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Real Estate Tips
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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Real Estate Trivia
Q 
Where are church services held in the water each Sunday during July and August?

A 
At Half-Moon Bay, Ontario, worshippers gather in boats facing the natural stone pulpit, and hymnals are passed to the floating congregation by ushers in canoes.
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Wendy Louie, REALTOR®, real estate agent and broker for Oakland, Berkeley, Albany, El Cerrito and San Francisco, California home listings, property and land for sale - NUMBER1EXPERT(tm)

Wendy Louie
Better Homes & Gardens Mason McDuffie Real Estate

906 Eucid Ave
Berkeley, CA 94708
510-851-9888
Fax: 510-528-6916
WendyLouie@NUMBER1EXPERT.com

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