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Seller motivation could be driving the split you noticed. An owner who has already renovated may have a property that is easier for buyers to assess, while an owner selling something tired may still expect the renovated price. The latter sits until expectations change. That is not necessarily...

Before deciding, make a simple best/base/worst-case calculation using your possible share, not the headline figure. Ask for written clarification of the scope, current reserve, expected schedule and how the apartment’s contribution would be allocated. Then compare the apartment price plus the...