Buying a Riga flat in instalments without a bank ends in losses and eviction
A Riga resident tried to buy an apartment on an instalment plan without a bank's involvement. It ended in significant financial losses and a court ruling ordering her eviction from the home.
A woman living in Riga tried to buy an apartment on an instalment basis, without taking a bank loan or involving a bank as an intermediary. The attempt ended in significant financial losses and a court judgment ordering her eviction from the home.
There is a further complication: the apartment she is being evicted from has been damaged in a fire.
The headline of the original publication says that in such a case a person can be left with neither money nor a flat, and it asks what can go wrong when renting a home with an option to buy. The available excerpt of the source does not give further details such as amounts, contract terms or the court's reasoning.
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