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Updated about 5 years ago,
Low ceiling height issue and shared meter
I found a duplex, the seller is very motivated, as he was not able to sell for some time now because of the ceiling height issue(height I think it's about 6.4 ft, the city requires minimum 7 ft ). The previous buyer backed out because of the same reason. Another problem is, it has only one meter for both units. Will ceiling height issue prevent me from adding another meter? Can it be grandfathered and add another meter if I want to? I read somewhere that if I make any changes, that will bring grandfathered to current code. is it correct? The building is almost 100 years old. So my question to you guys do you think it is a good property to buy and live in. I am using a non-traditional loan which requires negligible downpayment with good rates.. the only downside is I have to occupy until the loan is pending. It is really hard to find a good property with this loan, so I need to make this decision by tomorrow.