What do i need to do for home puchase between friends?

I would suggest you speaking with an attorney, they will have all the information for you. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Buying a home directly from a friend in Florida follows the same legal framework as any real estate transaction, and skipping proper documentation because of the personal relationship is one of the most common and costly mistakes in these deals. You still need a written purchase and sale contract, a title search, title insurance, and a proper closing through a licensed title company or real estate attorney. In Spring Hill and throughout Hernando County, even informal sales between people who trust each other can unravel when an undisclosed lien, title defect, or boundary issue surfaces after the fact. Florida requires sellers to disclose known material defects regardless of the relationship between buyer and seller, and a title company will protect both parties by ensuring the deed transfers cleanly. If either party is financing the purchase, the lender will require a full appraisal and standard closing process regardless of the relationship. For cash transactions, consider having a local real estate agent or attorney draft or review the contract to confirm all required disclosures and terms are included. A clean, documented closing protects the friendship far better than a handshake agreement ever could. Kevin Neely & Kaitlynd Robbins | K2 Sells

You will need a joint tenancy agreement or co-ownership contract that outlines shares, financial contributions, and what happens if one person sells. A real estate attorney or your agent can help you structure it properly.

Buying real estate with a friend is essentially a business partnership, so you want more than just a deed. A joint tenancy gives you equal, undivided ownership with right of survivorship, but it doesn’t spell out responsibilities or what happens if one of you wants out. The typical way to handle that is through a co‑ownership agreement or cohabitation agreement drafted by an attorney. That agreement should cover: • How much each of you is contributing up front and what percentage of ownership that translates to. • Who will be on the mortgage and how the monthly payment, taxes, insurance and maintenance will be split. • How you’ll handle improvements and repairs and whether one party gets credit for extra contributions. • What happens if one party wants to sell, move out or passes away. Does the other have a right to buy out their share? How is the property valued? How will proceeds be divided if you sell together? • Dispute resolution and what happens if someone stops paying. An attorney can prepare a co‑ownership contract and update the deed to reflect the form of title you choose (joint tenancy vs. tenancy in common). Lenders may need to review any changes prior to closing, so don’t wait until the last minute. Also consider drawing up wills and life insurance to protect each other’s interests. There is no one‑size‑fits‑all “prenup for friends,” so the best step is to consult a local real estate attorney to draft documents that comply with Florida law before you close.

This is a question for a real estate attorney. I would consult with one before closing, and in the future, before signing anything.

I would highly suggest contacting a local real estate attorney or title representative to assist you in this matter.