That is incorrect information. The units do not have kitchens and are issued cerfiticates of occupancy.
Bob, that is correct. I just answered your last post of this same question. When the building was converted from apartment to condominium, my company represented the owner and buyers could get financing through Chase. I was one of those buyers! That is no longer the case. I have not been able to find any lender--local or national that will lend on the building.
I'd be happy to help you discover other ways to purchase there. Just reach out to me via Trulia or my website below.
Records indicate that virtually every purchase over the last several years has been in cash. True, they do not have kitchens; there is a dining fee. However, you will most likely hear from some lenders who would be your best source of advice on the mortgage issue.. Please know that the E&S are age restricted units. In order to RESIDE there, one must be 55 or older (formerly 62). In addition there have been some other changes in policies in the E&S. If you are not presently working with a realtor, I would be happy to assist you with this property or any other in the Monmouth/Ocean area.
Realtor Associate, SRES (Seniors Real Estate Specialist)
Jack Green Realty
Ocean Grove, NJ 07756