Hi all
Does anyone know who would finance a Coop in Baltimore? I am selling my mother's apartment in a Coop where most people traditionally pay cash. However, because folks are having so much trouble selling their house, the availability of "empty nester" cash buyers has dried up. Would be curious as to who funds these types of loans outside of DC, New York and Florida.
I also understand there needs to be a Letter of Recognition between the Lender and the Coop Board. If so, what would a lender require for down payment and what are likely obstacle to a Letter of Recognition?
Judy London Murray, Broker
Remarkable Properties, inc.
410 668 2828 x 1
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