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/u/LongtermSquirrelish
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Hey everyone, my fiancé and I recently purchased a ground floor apt unit in a 3 unit townhome. Our apt includes a living floor and a basement. The backyard entrance also leads into the basement level with 2 storage rooms that are empty and not used.
We would like to explore buying the apt 2 and apt 3 owners out of their storage spaces in order to expand our basement. I’m assuming this would involve updating the HOA trust (just us 3 apts) and getting a purchase agreement from a real estate lawyer. Would anything else need to be done? Also looking for advice on price for something like this.
The storage rooms are just concrete and bedrock and not used, I’m unsure if it’s worth a sq ft % of market rate but if that’s usually what happens I’d like to hear about it. Thanks for the help/advice
submitted by /u/LongtermSquirrelish
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3-unit w/ unused storage in basement—buying the space
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We would like to explore buying the apt 2 and apt 3 owners out of their storage spaces in order to expand our basement. I’m assuming this would involve updating the HOA trust (just us 3 apts) and getting a purchase agreement from a real estate lawyer. Would anything else need to be done? Also looking for advice on price for something like this.
The storage rooms are just concrete and bedrock and not used, I’m unsure if it’s worth a sq ft % of market rate but if that’s usually what happens I’d like to hear about it. Thanks for the help/advice
submitted by /u/LongtermSquirrelish
[link] [comments]
3-unit w/ unused storage in basement—buying the space
Continue reading...