Buying or Selling a Home/Buying land with brother

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Expert: - 7/18/2006


Question
My brother and I are interested in purchasing a house on 52 acres of land. We both have families. My brother would take the house and I would build. Because of the house, my brother would pay majority of the cost. I would like to know what is the best way of purchasing this land? Do we buy as tenants in common? We would like to have a seperate mortgage if possible. Thank you  

Answer
I would recommend you make a lot split. You will have to go through the paperwork with the county and an expert who will help you divide the land per your choice. Your brother would have his half and you would have yours. Then you both can do as you please with your respective parcels. That way you can also get your own loans, too.

I do wish you well.

Dick Dennis             dixiedee13@aol.com

Buying or Selling a Home

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Dick Dennis

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With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

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Solving real estate problems for 37 years.

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National Association of Realtors

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Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

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e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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