Rising values were prompting more Australians to buy property with friends, colleagues or relatives, according to buyers’ agent Michelle May, who said shared purchases could lift borrowing power and spread costs but grew complicated with several parties involved. PIPA chairman Peter Koulizos advised putting the arrangement and its exit terms in writing before committing, noting that relatives and friends did not always make sound business partners.
Reported by
Anthony Keane, Daily Telegraph, 26 August 2021
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