Tenants in Common Private Real Estate Sale

Sell your property privately with no agent and no commission through the private real estate sale and for sale by owner website Privatepoint.

The price of real estate in Australia is now beyond the reach of many young people looking to purchase their first house. This isn’t great for real estate for sale by owner or private house sales as first house owners make up a large portion of the buyers for real estate in Australia. However, there is hope as we are now seeing a trend emerge in real estate where young people are pooling their money together with friends and purchasing a property together to live in.

Young people are entering into what is know as a “tenants in common” contract, where they can divvy the mortgage and benefits of a property. They each have a certain share and when the property is sold each get their share of the sale price of the property.

Obviously this arrangement isn’t for everyone as not only are you making an investment with your friends but you are also living under the same roof as them on an ongoing basis. If things don’t work out then it isn’t a huge issue, as these contracts are designed so parties can leave the agreement without too much headache to all parties.

It is great to see that there are ways for young people to get a “foot in the door” in the real estate game in Australia.