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Answers (3)
- Jennifer Prestwich, "Jennifer Prestwich"
- Contributions:16
Jay is right, Heather. I, too, have purchased and sold duplexes in the past. Be sure to read through the party wall agreement to be sure that you understand and agree with what it requires before you purchase. You will want to know whether there is a separate water tap. Depending on the age of the building, there may not be, but I believe it is required nowadays. This could affect you on resale. Your agent will be able to help you through the ins and outs. Good luck!
- JAY Feaster, "Jay Feaster"
- Contributions:192
I hate to correct the other agent, but Yes you can and No you don't need anybody else to purchase the other half. I build and sell duplexes all the time. It's just like buying a regular single family detached home, except you usually have a party wall agreement for the shared wall.
- Sharon Lewis, "Sharon Lewis"
- Contributions:3917
Anything is possible, you would have to have a business partner purchase the other half though.
In Colorado can you own 1 half of a duplex?
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