P.E. from New Jersey writes: Dear Mister Condo, What are the disclosure laws in New Jersey for the resale of a condo? Mister Condo replies: P.E., I am not an attorney so I cannot give you a legal answer here. You should speak with a qualified attorney in your region to get a legal response…
Tag: Selling
FHA Not Satisfied with Condo Reserve Fund
T.S. from outside of Connecticut writes: Dear Mister Condo, I am having trouble getting this Condo approved for mortgage financing. I was told that if the current budget does not have a line item for the Reserve Fund, that would make the HOA ineligible. Can you give an example of a budget that shows a…
Condo Square Footage Marketed Using Common Area Figures
C.C. from outside of Connecticut writes: Dear Mister Condo, Is common area factored into the total square footage of the sale price of a condo? Mister Condo replies: C.C., typically, common area would not be factored into the individual square footage of the condo. However, sales prices are simply marketing tools and have no meaningful…
Neighbor’s Smoke Forces Condo Owner to Sell!
J.S. from outside of Connecticut writes: Dear Mister Condo, I am a condominium owner who can no longer hack the smoke. I see from this forum that the raging conflict rarely goes well. I AM LOOKING TO SELL THE PLACE. I am not looking for legal advice nor interested in beating a dead horse with…