- MLS listing facts require independent confirmation
- Permits, title, insurance and financing are property-specific
- Source links are informational, not endorsements
Ask the lender which project-level questions matter
Different mortgage programs and lenders may evaluate condominium litigation, reserves, project insurance and related financial obligations differently. A prior sale in the building is not proof that another loan will be approved today. Confirm the legal condominium project name and obtain the documents the buyer's lender identifies for its project review. Discuss whether the HOA has approved a special assessment, has merely proposed one or has announced no such obligation; those are materially different facts. Ask title about recorded claims specific to the unit and review the owner's coverage separately from the master policy. A seller can prepare these records early without promising that the project is eligible for every financing program.
Price and market the individual condo accurately
Use genuinely comparable condo sales with similar building amenities, condition, parking rights, HOA dues and the transaction circumstances that were known at sale. An asking-price reduction in a different building does not measure the financial effect of this association's litigation. Present actual unit features and condition, and disclose known relevant information as required. Make association document access part of the transaction timetable so financing questions are not postponed until the final days of escrow. Ask the buyer's lender, inspector and qualified counsel to evaluate their respective issues. Transparent records can help a transaction proceed, but they do not make litigation irrelevant or guarantee that any buyer will close.