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 TH-cam. 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.

[@ezraweissman1831]

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

[@McDonaldResidential]

you're welcome

[@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

[@kathleenconnolly9021]

T

[@kathleenconnolly9021]

Oops, thank you for the advice

[@McDonaldResidential]

you're welcome@@kathleenconnolly9021