Ok so 4 years ago myself and a good friend bought an apt together.
We payed €260k. 6 months later her sister bought one exactly the same with her boyfriend for €340 - we thought we were going to make a fortune when we sold.
There was never any agreements drawn up, we just always said that we'd probably sell after 4 or 5 years.
She rang me the other day to say that herself and her boyfriend - who owns an apt on his own - had applied for a mortgage and were refused simply because of these 2 apartments. I had no idea she was looking.
She did say a few months ago that she was going to move home and rent her room out for a year to save in order to buy. She asked me what my plans were, I said I had none re; the apt for now as I have no money, was out of work, am now in a min wage job...
She has not found anyone for the room yet.
When she called the other day she said that we need to sit down and have a chat about the apt and what we are going to do.
First of all how do I find out if we're in negative equity?
Second of all if I don't want to sell and there's nothing in writing is there anything she can do?
Any advice appreciated.
We payed €260k. 6 months later her sister bought one exactly the same with her boyfriend for €340 - we thought we were going to make a fortune when we sold.
There was never any agreements drawn up, we just always said that we'd probably sell after 4 or 5 years.
She rang me the other day to say that herself and her boyfriend - who owns an apt on his own - had applied for a mortgage and were refused simply because of these 2 apartments. I had no idea she was looking.
She did say a few months ago that she was going to move home and rent her room out for a year to save in order to buy. She asked me what my plans were, I said I had none re; the apt for now as I have no money, was out of work, am now in a min wage job...
She has not found anyone for the room yet.
When she called the other day she said that we need to sit down and have a chat about the apt and what we are going to do.
First of all how do I find out if we're in negative equity?
Second of all if I don't want to sell and there's nothing in writing is there anything she can do?
Any advice appreciated.