Looking at buying a duplex, But have been warned that because it is the one building we could run into trouble down the line if maintance has too be done on the property ie.eletricity wireing,pest control etc. is this true? and will we have to split any maintance bill's 50/50 with the other owner?
2006-06-23 00:04:22 · 3 answers · asked by Anonymous in Home & Garden ➔ Maintenance & Repairs
Listen...
I have owned and managed a few duplexes in my time.
Never - have I owned 1/2 of one...
In my opinion, find a duplex where you can buy the whole thing. Why? Unless you have similiar views (and everything in writing) it would be difficult to equally share the responsibility.
If you are interested in buying this, yes get all information you can on the wiring, pest and dry rot inspection, property records, current market rent value and so on and so forth.
But unless the other owner is a business partner of yours, then I wouldnt risk it.
2006-06-23 05:53:06 · answer #1 · answered by urbanbutterfly 3 · 0⤊ 0⤋
No offense but if I was going to buy a duplex, I'd rent both halves, not live in either.
That way you are in control of the entire package.
In your instance however, I suggest there will be two of everything, elect meters, water meters, all supply lines both Plumbing and electric, as well as seperate sewage disposal lines. The maintenance in the form of repairs,,,IE: the roof caves in over both, will have to be attended to also individually, with regard to cost. Pest control, again , is an individual situation.
Certainly before spending a single dollar on this, I'd get a real estate attorney, and have a meeting with current half owners, if they even exist.
Still, all that said, I'd never BUY what is in effect, an apartment.
Rev. Steven
2006-06-23 08:56:15 · answer #2 · answered by DIY Doc 7 · 0⤊ 0⤋
I would change my mind and look at a condo. 2 people owning the same building is asking for trouble. Do you want to pay for his new wiring to add amenities---does he want to pay for yours?
Who is going to take care of the yard work? What about pet damage? What about the title policy? Could you sell without their concent? Very risky, just my opinion.
2006-06-23 08:21:13 · answer #3 · answered by lilabner 6 · 0⤊ 0⤋