The building has pooled insurance (with other buildings). The lender says that the owners in the building will have a very hard time selling as almost no lender will lend in a building where the insurance is pooled. The building has several units for sale and a couple under contract, but no closes recently. Is this short sighted on the building's part? You have to feel bad for the sellers.
The building has pooled insurance (with other buildings). The lender says that the owners in the building will have a very hard time selling as almost no lender will lend in a building where the insurance is pooled. The building has several units for sale and a couple under contract, but no closes recently. Is this short sighted on the building's part? You have to feel bad for the sellers.