Co-Ownership is getting Popular

Since Down Payment Assistance Programs such as AmeriDream, are gone more and more friends are joining up and buying a home together.  If you are thinking of doing this, my advice to you would be to get an attorney.  He can draw up the co-ownership papers as well as the particulars on how to get out of a co-owned home.

 

The scary part of this arrangement is that there is a great potential to have it fail.  You really need to know who you are going to do this with.  You need to know there finances and they yours.  You will need a good loan consultant who will be able to walk you through the process.  You need one who will explain the total costs, including taxes and hazard insurance.  You will also need a patient realtor who will listen to your needs.  I have help out a few friends in the past and all went well but I cannot promise that will always be the case.

 

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!" 

 

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