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#1
Old 12-28-2011, 09:04 AM
AngloArab
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Default Is anyone here knowedgeable on shared ownership schemes?

Hi,
I'm a first time buyer and I've been eyeing a 2 bedroom property that's on offer through a shared ownership scheme. I need to know what the rules are when it comes to renting out one of the rooms to a tenant. The information I've found on this is quite scattered. If anyone here's knowledgeable on this subject, please let me know as I've got some questions I can't find the answers to.

Cheers
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#2
Old 12-28-2011, 10:21 AM
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I think you are OK letting out a oom provided you are living there. Under special circumstances you can let out completely for 2 years. A friend of mine is doing that with her flat. She was going to buy more of the property but the valuations came in high.

Last edited by Prince Mongo; 12-28-2011 at 11:09 AM..
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#3
Old 12-28-2011, 07:31 PM
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Cheers mate
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#4
Old 12-28-2011, 08:10 PM
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Quote:
Originally Posted by AngloArab View Post
Hi,
I'm a first time buyer and I've been eyeing a 2 bedroom property that's on offer through a shared ownership scheme. I need to know what the rules are when it comes to renting out one of the rooms to a tenant. The information I've found on this is quite scattered. If anyone here's knowledgeable on this subject, please let me know as I've got some questions I can't find the answers to.

Cheers
i'd call whoever is your title company.

ask your real estate broker about it. before any escrow can be opened a title company issues a preliminary report to the escrow company. contact the title officer that issued that prelim.

i'm in the title industry but laws change from state to state let alone from country to country.

it is very important how one comes into title. especially if there's a death involved concerning one of the grantees later on.
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#5
Old 12-28-2011, 08:19 PM
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bud , contact this company.

http://www.firsttitle.eu/Companies/f...insurance.aspx

it's the english subsidiary of first american title based in the states.

ask for an advisory title officer.

don't talk to a sales rep or customer service rep. they don't know anything.

just ask to be transferred to an advisory title officer or legal title officer.

he/she should be able to explain it to you in a minute.


don't ask for a title unit officer because they're usually pretty busy and will just blow you off and tell you to talk to an attorney.

ask for an advisory title officer. usually it's just an ex-title officer that no longer works on a unit and now just gives legal advice to the younger title officers. they usually don't have much to do , and like to hear themselves talk so they should be helpful.
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#6
Old 12-28-2011, 09:59 PM
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Quote:
Originally Posted by Left Hook Tua View Post
bud , contact this company.

http://www.firsttitle.eu/Companies/f...insurance.aspx

it's the english subsidiary of first american title based in the states.

ask for an advisory title officer.

don't talk to a sales rep or customer service rep. they don't know anything.

just ask to be transferred to an advisory title officer or legal title officer.

he/she should be able to explain it to you in a minute.


don't ask for a title unit officer because they're usually pretty busy and will just blow you off and tell you to talk to an attorney.

ask for an advisory title officer. usually it's just an ex-title officer that no longer works on a unit and now just gives legal advice to the younger title officers. they usually don't have much to do , and like to hear themselves talk so they should be helpful.
Cheers Tua,

I'll give them a call.
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Old 12-28-2011, 10:42 PM
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LHT doing the bizzo here. well done m8y
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