Let's Talk Albuquerque!

head_left_image

Before You Purchase A Home With Your Boyfriend/Girlfriend, Think Twice

You are in love and it feels right...it seems the most practical thing to do, but look before ypou leap.  Things do go south sometimes...people change and then you have to face reality.  Before you make a big purchase like a home...know the rules of engagement

Before you purchase a home with your boyfriend or girlfriend, think twice! If both names are on the deed, just as in a marriage, both names need to be on the listing agreement and both people need to sign at the closing table!

I received a call today from a young man who purchased a home with the person he assumed would be his partner forever. They purchased a great home together and now, a few years later, they have parted ways. One has left the home and the other is still there. One wants to sell, the other wants to stay.

Just as in a marriage, if you have your name and another person's on the deed for that home, you both have to sign all of the paperwork to sell, unless the other person buys you out.

I have seen this before, a young couple purchasing together before they marry and then having the relationship go south. It is sad but everyone needs to remember, as far as the law is concerned, you are both responsible for that home. It isn 't like renting and moving on. As for advice, my advice is: "Get an attorney, I am a Realtor and not qualified to give legal advice."


Buying or Selling - - Call Barbara-Jo for all of your real estate needs! - - 727-512-0910

crystal beach florida
Ich Spreche Deutsch!!!  

Barbara-Jo Roberts Berberi, MA

Charles Rutenberg Realty

Serving the Greater Palm Harbor Florida Area, including Crystal Beach, Dunedin & Tarpon Springs Florida

Waterfront condos & homes
relocation, investment, upsizing, downsizing

Your Real Estate Specialist

727-512-0910
visit my website to see all my current listings
www.barbarajo.com


connect with me online

If you are thinking of purchasing in the Palm Harbor, Crystal Beach, Safety Harbor, Dunedin, Tarpon Springs area or along our pristine Gulf Beaches, give me a call! With years of experience in the local real estate market, I am here to assist you in making one of the most important purchases of your life! Give me a call today! Find out for yourself why living along the Gulf Coast is indeed living in Paradise!

albuquerque real estate

Here are my Facebook Fan Pages. I would appreciate it if you would visit and like them.

Beautiful Bernalillo CountyLivingAlbuquerque, and Lloyd & Associates Real Estate.

C. Lloyd McKenzie, MBA

NM Real Estate Broker

Phone: (505)750-8552
Email:Lloyd@LivingAlbuquerque.com

Areas Served: Albuquerque Metro/ Algodones/ Bernalillo/ Cedar Crest/ Corrales/ Edgewood/ Los Lunas/ Los Ranchos de Albuquerque/ Placitas/ Rio Rancho/ Sandia Park/ Tijeras

Comment balloon 11 commentsC. Lloyd McKenzie • November 29 2012 10:30PM

Comments

Hey C. Lloyd,

What an appropriate post for today's environment.  Thank you for re-blogging.  Best of continued success to you sir!

Posted by Jordon Wheeler, J W Group Real Estate Sales and Service (The Jordon Wheeler Group) over 5 years ago

So sad, but true.  Buying real estate, is a real committment.  It's not something that one should take lightly.  I've had friends buy homes on behalf of credit challenged friends, and subsequently the friendship takes a dive when the occupant stops making timely payments.  

Posted by Lanise Warrior-Johnson, Real Estate Specialist (Real Estate Brokers Services, Inc.) over 5 years ago

C. Lloyd, real estate is a big purchase and I have heard of unmarried couples take the plunge and purchase jointly.  I guess one way to enter into this type of agreement would be to have an exit strategy in place before the deal is signed.  It's similar to a prenup with a marriage and can make things easier, should a split occur.  Good post!

Posted by Christina Sanchez Hood, #SiliconValleyHOODS | Inspired Living over 5 years ago

C. Lloyd  Thanks for the re-post.  I am amazed what people were thinking.  Undoing is a lot harder than the doing!

Posted by John G. Johnston, An Exclusive Buyer's Agent ~ Westcliffe, CO (John G. Johnston & Associates, LLC) over 5 years ago

Thank you for the re-blog. Good luck and more success!

Posted by Mike Warren (Real Estate) over 5 years ago

C. Lloyd and Barbara, great blog which I've never given much thought, but now I will, Good Stuff.

Have a terrific Friday and best wishes $$$, Bob

Posted by Bob Ratliff, "Sold on Bob" (Canyon Vista Realty) over 5 years ago

Good morning C.Lloyd.

A great re-blog.

Thank you.

Have a nice and productive weekend.

Posted by Joshua Zargari, MJ Decorators Workshop (MJ Decorators Workshop LI staging and home decorating) over 5 years ago

Excellent reblog C. Lloyd, keep up the good work. Contact C. Lloyd for all your NM real estate needs (505) 888-1700 he is an expert and a professional.

Posted by Will Nesbitt, Nesbitt Realty is a family-run brokerage. (Nesbitt Realty at Condo Alexandria) over 5 years ago

thanks for the reblog, Lloyd. I really appreciate this one!

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) over 5 years ago

C Lloyd,

               Great reblog! I love it! Barabara Jo is quickly becoming one of my favorites on Active Rain!

Posted by Yolanda Cordova-Gilbert, Sitterle Homes (Sitterle Homes) over 5 years ago

Thank you all for your comments.  Please be sure to stop by Barbara-Jo's blog and leave her a comment

Posted by C. Lloyd McKenzie, Living Albuquerque over 5 years ago

Participate