17 Do the undertaking legal documents involve any constraints on sale which would limit the no cost transferability of title?
Guidelines concerning what is taken into account non-warrantable can vary, but right here some of the motives for your condo to be flagged:
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The developer however controls the HOA and hasn’t turned it around to homeowners. This raises governance considerations.
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These condos existing challenges in acquiring financing on account of things which include ongoing litigation, operational difficulties, significant Trader focus, or failure to adjust to occupancy needs.
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Litigation uncertainties – Present or pending HOA or developer lawsuits are noticed as crimson flags by lenders.
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Therefore, lenders demand better home finance loan rates, fees and deposit necessities to compensate with the elevated hazard.
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