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Buying with a family member...
Comments
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How people whine about estate agents overselling properties but here we have a woman who is prepared to do it to her own father.
How do you know she's overselling anything?
Do you know the house she'll be looking to buy in 18 months or so? Do you know where the market will be in that time?
All I've said is accusing her of dishonesty is a little harsh. She's saving hard and trying to prove to her ol' man she's been responsible. Hardly sounds as if she's setting out to dishonestly portray an unrealistic picture to her dad in my opinion.
:cool:0 -
JonnyBravo wrote: »How do you know she's overselling anything?
Do you know the house she'll be looking to buy in 18 months or so? Do you know where the market will be in that time?
All I've said is accusing her of dishonesty is a little harsh. She's saving hard and trying to prove to her ol' man she's been responsible. Hardly sounds as if she's setting out to dishonestly portray an unrealistic picture to her dad in my opinion.
:cool:
Hmmm! How about this?I figure that a) its going to be a sound investment for my dad. and b) even if i only own a small percentage, that percentage share will still grow and increase as i improve the house and its value goes up!
Angiekaren's words, not mine.0 -
angiekaren - as someone who is doing the same thing but as a parent, there are other things to consider.
Assuming you and your father would be buying as tenants in common, are you an only child? Supposing you lost your father, would you be able to buy out your siblings/cat's home/pay any debts from father's estate?
If you were to default on the mortgage on even die yourself, your father would also be liable.
If your father doesn't live with you, he may have to pay CGT when you sell.0 -
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