Moving home is not always a pleasurable experience. A prospective buyer’s first responsibility is to sell his home and while doing so prepare his family for the move ahead. Those homes which have kids find the exercise of moving an emotionally enervating one. This said, there is certainly a way to make the whole experience pleasurable.
Michael Yardney speaks about the prospect of co-investing in properties with your loved ones. In an article for the website Real Estate View, he addresses the situation suggesting that the intent is right but the results may not be something to be jubilant about.
Investing with your loved ones can bring money into the equation, at times compromising the strength of emotional attachment. Yardney also speaks unequivocally about instances of faulty borrowing, jeopardised future creditworthiness, misuse of equity, and ill-decided exit plan, among other things, in the event of investing with friend or family.
Ideally, asserts Yardney, you must compartmentalise roles and prefigure who will take up just what. Such roles may include, but are not restricted to, defining goals, responsibilities, legal and financial obligations, and profit distribution.
You can read the original article here.
How did you go ahead with the idea of investing with your loved one?
In my years of plying the buyer’s agent’s trade, I have come across many wonderful people who bought an apparently wonderful fixer-upper only to be duped non-so-wonderfully. On the contrary, I have also seen some of the bargain deals turning into renovators’ delight.
I know that most of you are well versed with the essential difference between a buyer’s agent and a sales agent. For the aid of a few who are uninitiated on this, a buyer’s agent works exclusively on the buyer’s behalf whereas a sales agent is paid to represent the best interests of the seller. Why then am I bothered if you already know the difference? Let me explain you why and I am pretty confident you will find my line of reasoning appealing.
I read an interesting piece on the website realestateview.com.au. I will go on to say that most of the findings the article talks about is in sync with my expectations. The article is about the aspirations of buyers when they are searching for a home.
With the property investment market getting really buoyant over the last 12 months, the way you step up to buy your property will matter a lot in months to come. It then might help if you know what kind of buyer are you. After all, knowing where you stand in terms of buyer preference and style will help you in tackling investment challenges a whole lot better.
We are all different types of buyers. Some of us are glued to our information-sucking tablets while others among us know the pulse points of the negotiating table. Realestateview.com.au has come up with a nice quiz to help you know your buyer type.