2006-08-28 04:27:13 · 12 answers · asked by mchl_hgh 1 in Business & Finance ➔ Investing
Don't.
2006-08-28 04:30:14 · answer #1 · answered by Pete T 3 · 0⤊ 0⤋
I you or your friend stop making payments on the house for whatever reason both your credit ratings will suffer. If one of you file bankruptcy to get out of the loan it might show up on your credit report too. If you are doing it for investment then write down what each of you expect to receive at the end of the sale...good luck
2006-08-31 07:49:05 · answer #2 · answered by Mr.Morgan 4 · 0⤊ 0⤋
its hard enough to live for awhile and pay rent with your friends and you have to be very serious about this committment with your friend
plan plan plan- decide if you are going to stay a long time or if either party can buy the other's share down the road.
talk to a mortgage broker in your area
good luck
2006-08-28 05:10:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Don't do it. Houses (and mortgages) tend to last longer than friendships. If you want to share a house with your friend, there are other ways to do it. Buy a house in your name and have your friend pay you rent. Or they can buy a house and you pay them rent.
2006-08-28 04:47:20 · answer #4 · answered by NC 7 · 0⤊ 0⤋
make sure you have a solid legal agreement about share and what happens if one wants to sell and the other doesn't. See a solicitor and get a binding agreement signed.
2006-08-28 04:49:18 · answer #5 · answered by mike-from-spain 6 · 0⤊ 0⤋
do everything legally and through a solicitor between you both. Friends generally shouldn't go into business with you - normally ends in tears
2006-08-28 04:39:56 · answer #6 · answered by Chris K 2 · 0⤊ 0⤋
I would have thought making an offer and contacting a conveyancing solicitor were the offer to be accepted to be a good start.
2006-08-28 04:32:10 · answer #7 · answered by Here's Danny 2 · 0⤊ 0⤋
The easiest way of loosing a best friend is to have something you have to share.
2006-08-28 04:34:15 · answer #8 · answered by fool4lovin. 2 · 0⤊ 0⤋
Don't do it ,she/he won't be your best friend when you want to sell and she doesn't or the other way round.
Get yourself a tiny place of your own instead !
2006-08-28 04:50:50 · answer #9 · answered by Anonymous · 0⤊ 0⤋
too expensive at the mo i think. wait for the drop but i dont know how long it will take.call me if u need interior design help and so i can make some money! :D
2006-08-28 09:15:08 · answer #10 · answered by allgiggles1984 6 · 0⤊ 0⤋
read tips on real estate, loans and mortgage that will help you on this site
2006-08-28 04:45:53 · answer #11 · answered by Anonymous · 0⤊ 0⤋