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Buying a 2nd hand apartment with interior layout makeover

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  1. #21

    Join Date
    May 2010
    Posts
    4,713

    I would walk away from it. But if your feelings are getting in the way of making a sound financial decision, then
    Assume the loft will collapse at any time
    Assume BD will come after you and ask you take down the loft. And put back up the partition
    Also assume the incorporated owners will come after you for taking down a "common part".

    The common wall between the units are not yours. They are part of the IO. Structural or not.


  2. #22

    Join Date
    May 2010
    Posts
    4,713
    Quote Originally Posted by BCD:
    With 2 flats you can apply for 2 separate mortgages and as each flat separately is cheaper then the buyer may qualify for a greater % mortgage.
    Also the flat may have been purchased by a company and thus may have a work around on paying the stamp duty.

    Buying a new flat will give you the greatest % mortgage

  3. #23

    Join Date
    Apr 2015
    Location
    Hong Kong
    Posts
    10

    Thank you all for your comments and advice. Much appreciated.

    It's a nice property, superb location and a great view to enjoy but we decided to walk away from this complicated deal. We actually went back to check the place again after reading comments on this forum. But still better be careful rather than sorry down to the road especially when we are not familiar with the technical stuff. Who knows, maybe another gem somewhere will present itself later.

    dumbdonkey likes this.