Recently I read an article about this company that is matching home buyers. Yes, they are finding two individuals that want to become home owners, but can't do so themselves. They give them questions to answer, etc. and match them with potential partner home buyers to buy their first home. Of course there are many rules that need to be followed before they recommend the match.
I have seen it happen successfully and I have seen it fall apart a few weeks after closing. I call it co-op buying, it's a marriage of sorts. There are legal issues that each party must discuss, I always recommend speaking to an attorney before buying with a friend, family, or co-worker. Everyone must protect his or her best interest legally, discuss where the want to go with this partnership and what both parties expect from the other. I believe that done correctly with two individuals that know what the rules are and follow them, co-op buying could be a good experience. It saves both the buyers rent money and gives them a sense of pride to become home owners. Just a thought.......
Comments(3)