Re: Condo verses single family house - Saab General Bulletin Board - Saabnet.com
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Re: Condo verses single family house
Posted by andym (more from andym) on Sun, 1 Dec 2013 16:48:41
In Reply to: Condo verses single family house, No Snaab, Sun, 1 Dec 2013 15:24:08
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Make sure the condo association has sufficient capital replacement reserves. If the association is under reserved or subject to significant assessments, the buyers of the units may not qualify for FHFA subsidized mortgage rate. Thus any current owners/sellers won't be able to sell at market rates.
I had to battle my condo association to stop a $1 million dollar/special assessment vote for vinyl siding versus a $500 thousand dollar restain of cedar siding , and the winning argument was the potential loss of FHFA financing for new buyers. And another half million bucks.
But most condo owners are too busy to attend a meeting because they are watching Dancing With The Stars. It is a lonley fight to do the right thing.
Good luck.
posted by 24.44.16...
Posts in this Thread:
- Condo verses single family house, No Snaab, Sun, 1 Dec 2013 15:24:08
- Re: Condo verses single family house, BobS, Mon, 2 Dec 2013 19:44:44
- The Board, EGD , Mon, 2 Dec 2013 11:02:10
- it CAN be OK, if and only if you are in the know, Notnoel , Mon, 2 Dec 2013 10:38:15
- Re: Condo verses single family house, Larry West , Mon, 2 Dec 2013 10:19:40
- Rules, fine print and other people, Noel, Mon, 2 Dec 2013 06:48:24
- Re: Condo verses single family house, andym, Sun, 1 Dec 2013 16:48:41 <-- Viewing This Message
- Re: Condo verses single family house, MI-Roger , Sun, 1 Dec 2013 15:53:10
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