I'm ready to close on a condo, but the bank wants a statement from the condo association lawyer

Asked by rjg1173, Pompton Plains, NJ Wed Mar 13, 2013

that a pending slip and fall case will be covered by association Ins. policy. No response from lawyer?

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4
Scott Godzyk, Agent, Manchester, NH
Thu Mar 14, 2013
You need your agent and the losting agent to assist in getting a hold of the HOa attorney. If they wont take a call go there and wait until they come out and see you and your agent to get an answer one way or the other.
0 votes
Andrew Tisel…, Agent, clifton, NJ
Thu Mar 14, 2013
If your bank denies loan because of Association there is other options with my mortgage broker Bond Street Mortgage that can get you the loan with out any inquiries to the association. You do need 20% down.
0 votes
20 % is no problem what are the rates for 30 year loan?
Thanks for replying
Flag Thu Mar 14, 2013
etomlinson, , Dallas, TX
Wed Mar 13, 2013
If you don't get this sttement, the property may be deemed non-warratable. The banks will not insure loans against these properties. Feel free to message me if this happens. I work for a credit union that overlooks this type of litigation.

Regards,
Erik Tomlinson
0 votes
Thank you
Flag Wed Mar 13, 2013
Jeanne Feeni…, Agent, Basking Ridge, NJ
Wed Mar 13, 2013
Get your agent on the phone with the sellers agent to push....sometimes it really does "take a village!" Also ask your attorney to get on the phone and also send faxes to push - faxes have embedded receipts so good evidence of effort.

Time for all parties to take action to get you over the goal line!!

Best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes
Thank you, we have been doing just as you said, even the bank has faxed them. Two weeks and no response.
Flag Wed Mar 13, 2013
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