I have a listing in a nice area of Oakland, California. Two bed, one bath, south-facing top floor corner unit with one deeded parking. I put the price aggresively since the seller MUST sell by the end of Januray.
Before I put it on market, I made sure no litigation against the building and occupancy rate 70%. I read all minutes. Minutes did not mention anything about HOA delinquency! Condo Cert is $160, and I was goin to order if I get the offer.
Thank God, a lot of interests, and a well-qualified buyer was very interested. Her loan officer asked me about HOA delinquency. Yes, I forgot to research about HOA delinquency before I put it on market. I called up the HOA manager, and the answer was 30%........OH, NO!
I was stupid.
I called many senior loan officers, and so far, I did not find any lender. Can anybody make a loan for this building? Please let me know. It's not FHA approved condo.
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