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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 
At the doors of what famous temple do you find yourself when you climb the 'Stairway to Heaven'?

A 
The Temple of Heaven in Beijing, China, attracts the local faithful and tourists.
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The Fahrner Home Team, REALTOR®, real estate agent and broker for O'Fallon, Swansea, Shiloh and Scott Air Force Base, Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

The Fahrner Home Team
Strano & Associates

4505 N. Illinois
Swansea, IL 62226
618-973-8002
Fax: 618-355-7790
Judy@JudyFahrner.com


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