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When I asked a real estate agent about buying a condo already owned by another they replied surprisingly "how can it happen? that would be illegal"
by 2rsf 3y ago
When I asked a real estate agent about buying a condo already owned by another they replied surprisingly "how can it happen? that would be illegal"
- fl7305 3y ago:) Yeah, nothing illegal ever happens. Was this in Sweden? In that case, I have heard of cases where a condo that someone bought had an unknown bank loan taken out against it. The bank loan is still attached to the condo even if it changes owners. The bank can force you to sell the condo to pay the loan back to the bank. You can then turn around and sue the previous owner who took out the loan. Good luck with that. I don't think this happens very often and usually the condo association knows which loans are taken out against which condos.