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Condo conversion unit

Started by darden
about 14 years ago
Posts: 4
Member since: Feb 2012
Discussion about
Can someone please recommend a RE lawyer who is familiar with dealing with a purchase of a condo conversion sponsor unit? I'll also appreciate if you can share your experience if you have made such purchase. any potential shortfall I should be aware of? TIA
Response by dak
about 14 years ago
Posts: 14
Member since: Jun 2010

i have purchased numerous condo conversion and new construction units the only problem could potentially be financing in a rental to condo conversion in which the sponsor retains too high a percentage of units would be happy to discuss further also my re lawyer handles such transactions

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Response by darden
about 14 years ago
Posts: 4
Member since: Feb 2012

Dak - i'm not concerned about the financing part, but more worried if i decide to sell in the future. say if the sponsor still retains a high percentage of units at that time, will it be a problem for other potential buyers to get financing?

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