4 ms·

I've already told my friends about this. If you're co-renting, might as well co-buy it and co-sell or transfer it.

• zaphirplane 7y ago
  What’s the plan if someone falls behind in payments, one Gets married/wants to move in with their SO Or there is a falling out
  • fyfy18 7y ago
    You just need a contract detailing the conditions of what happens in case of dispute up front.
    • brudgers 7y ago
      A contract won't pay the mortgage. It won't clear the title. Basically, in business contracts only come into play when relationships are bad. In a good relationship, discussions of the contract are "Why didn't you do that?" "Doing it is not part of the contract." "Oh, OK."
  • vkaku 7y ago
    1. Always have a buffer and not land up on the street. Most likely it will be hard to find a cheaper place unless you are sharing anyway! 2. You could transfer the mortgage to a new roommate, and get out of the deal, you can liquidate your equity for the downpayment plus principal. 3. Rent it out to someone, opting for nominal cash loss while maintaining equity, assuming you found another spot more suitable to your married / new found environment. 4. While living, either your accomodation money goes into someone else's pocket, or 50% of it goes into theirs - that is the difference between renting vs. mortgage.