First time buyers – consider syndicates to get on the property ladder

The heated market makes it even harder for first time buyers to secure their first property. Purchasing in a syndicate can be the answer and conjunctional ownership can make things happen sooner. Parents and children already commit to partnership agreements and agreed actions should circumstances change or issues arise.

Key matters that should be considered may include:

  • What form of ownership will be employed: Individuals or a company
  • Procedures if one party wants to sell before the rest
  • Proportional investment needs to be addressed prior
  • Distribution of maintenance costs
  • Consideration of capital gains or losses and division thereof
  • Structure of mortgage and repayments

Good planning can make it happen for first time buyers to get their foot on the property ladder.

 

About Linda Dobson

Linda Dobson - REAA Certified - is a sales consultant at the Rototuna branch of Harcourts - one of the six offices in Hamilton. She markets and sells residential properties with dedicated service to vendors to fetch to best possible price for their real estate. She gladly assists as a buyer's consultant to purchasers to find their ideal homes or investment properties and is results driven. She has a passion for real estate and see beyond the brick and mortar to address the needs and wants of both vendors and purchasers. Call Linda today for friendly, professional service, information and assistance with your next home or investment property. Mob: +64 22 64 50588 www.property-spectrum.com
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