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Old 23.04.2020, 11:02
LuganoPirate LuganoPirate is offline
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Re: Sell or not to sell

You did well to buy, and while we may see a small dip in the current crisis as people who are desperate to sell take lower offers, long term you'll be fine, even if interest rates rise. the fact you can lock in 15 year mortgages at just 1.5% indicate no rate rise for some time to come.

The ones to suffer are those holding commercial portfolios as more people switch to the internet for buying. A couple of shop owners I speak to by phone nowadays, tell me their online business has more than overtaken their retail business, and with the corresponding savings from rent, taxes, services etc they will not renew their leases.

Your question as to whether you should sell one unit or not. Again i advise against this. You will be forever in negotiations with the other owner and not free to make improvements etc without his permission, and vice versa.

Usually in the case of multi ownership the square metres (millesime as we know them) determine the degree of financial responsibility. If you have more you pay more, but if he has more he then controls the majority. Even if you have a clause you are 50/50 as I said, he can block you. Maybe you want to chnage the heating, put up solar panels, do something to the common areas, you will always have to ask him and he can say no and it's then a fight. Your quick gain will soon be dwarfed by legal fees.
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