South Beach Sales

Buy Real Estate Now

< Back

Buy Real Estate Now
Written By: Saul Klein
Monday, October 15, 2018

I will have an entire series on this subject soon if there is an interest. We call it "Syndication" and it may be your key to financial freedom and a successful real estate business.

Considerations When Purchasing Property With Others

Whenever you consider owning property jointly, there are long-term considerations to bear in mind. We have highlighted a few important points to clarify before going to contract:

1. Look at the >

2. Provisions on an agreement might need to address additional persons one or the other of the owners may want to bring into the jointly owned property. If buyer 1 brings in another person to live with, that makes buyer 2 crazy, then it is better to have some kind of provision for settlement prearranged for possible problems or complications.

3. Decide how the title will be held prior to purchase. As joint tenants, if one party dies, the other party enjoys the right of survivorship. However, if the title is held in a tenancy in common, one party can dispose of their share to whomever they choose, leaving the other divisional owner at a possible disadvantage depending on the circumstances.

4. Outline a set of guidelines for repairs in advance. If one party wants to put on a new roof, and the other party doesnt want to invest the money, what happens? Delineating specific points of repair or replacement can make improvements an easier subject to deal with. Keeping track of which owner has contributed the investment/improvement dollars can make reimbursement at the time of sale easier and clearer.

These are just a handful of the questions you may want to ask yourself before investing with others in the homeownership/real estate investment game.





Copyright© 2019 Realty Times®. All Rights Reserved

Video Gallery

Summer Dcor Trends: What to Lo...
Updated: Tuesday, June 18, 2019

This year, itrsquo;s all about color, texture, and a little something different. Here are th...
> Full Story

5 Questions to Ask When Choosi...
Updated: Tuesday, June 18, 2019

Before putting money down for a deposit on your new kitchen remodel, you need to look at sev...
> Full Story

Copyright ©2019 Realty Times®. All Rights Reserved

South Pointe Drive Realty / 500 South Pointe Drive. Suite 140 miami beach, FL 33139
Office: (305) 695-9898 | Email Us | Disclaimer
Real Estate Web Design