Buying a Home With Friends or Family

Bill Kessler, a business & real estate lawyer, gives advice on how to structure a contract when purchasing a property with a friend or family member.
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Thinking about buying or selling a home in Seattle soon? Please don't hesitate to reach out! People like you regularly contact me about their real estate goals after discovering me on RUclips. I'd love to bring value to your home buying or selling experience too!
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Other links you might be interested in:
Seattle Real Estate Market Update December 2021 -
• Seattle Real Estate Ma...
Interview w/ Bill Kessler Business & Real Estate Lawyer -
• Interview w/ Bill Kess...
Seattle Real Estate News Breakdown Videos -
• Seattle Real Estate Ne...
Video created by www.freestyleproduction.com

[@rachellebutler3369]

I had not heard this Term. Thanks for the info!

[@McDonaldResidential]

You’re welcome!

[@JChurchua]

Super valuable video. Im starting the process to buy a place with my sister who I've rented an apartment with for the past 5 years. Tenants In Common is a term I hadnt yet come across, seems like thats the next thing im researching.

[@McDonaldResidential]

Glad this was helpful for you! Where are you buying?

[@melindagibson6358]

I’d be very keen to see an information session like this for Australians - we have different tax rules (our principal residence attracts no tax benefits {unless we claim it for work business purposes} for example). So I’m keen to hear more about possible problems but also benefits of buying a property with a friend.

[@McDonaldResidential]

Sounds like that would be more helpful in your situation!

[@gregcoogan8270]

you must have property taxes in Australia. I believe that is what is being referred to in the video. Under normal circumstances, an owner of a property pays property taxes. US and Australia legal system is based on English Common Law so it is probably very similar in regards to owning property.

[@josuedominguez8631]

If buying a duplex with my cousin, each living in their own unit, do we each take out our own loan and would we each qualify for FHA on our part?

[@McDonaldResidential]

One mortgage

[@ezraweissman1831]

Constructive feedback - pick up some lavalier mics! This was useful information, thanks for sharing

[@McDonaldResidential]

you're welcome

[@kathleenconnolly9021]

T

[@kathleenconnolly9021]

Oops, thank you for the advice

[@McDonaldResidential]

you're welcome@@kathleenconnolly9021