Its a good idea to take over a house halve of the ownership and no down payment?

Alisha
whatever the value of the house is, he wants to refinance and take 10, 000$ back and then i take ove the halve. its that good deal?

Leonila
Will you have positive cash flow after all expenses?

Derick
Go to a reality lawyer and get a consultation that's you best advice before you start to get into any type of house ownership.He or she will help you out.This is the only way to go to answer your question.

Chuck
It can be. Be sure to have a good written agreement as to who is supposed to do what, and what happens if someone doesn't perform.

Hwa
YOU MUST determine the amount of equity in the house, and the legal ownership before putting money into this transaction. If the amount of the liens and mortgages on this property is greater than the fair market value, then this is a BAD DEAL.You should get a title insurance commitment from your partner, to determine that your partner is the only title holder, and the extent of the encumbrances on the property. You will also want to record a mortgage against the property, if this is a loan by you to your partner. If not, you will want your partner to make a Deed putting you on the title (giving you an ownership interest), so you can record it at the County Recorder of Deeds' Office.

Bernardina
personally i wouldn't do it. i don't do financial tranactions like that, but if you're going to, you'll need to come up with a contract with him stating what he'll get and what you'll get. that way in case there's a falling out, you're protected.