Low percentage of units sold

I'll add one. If you plan to finance, I believe some (most? almost all?) banks will not loan in a building which is not sold over a certain %.

One issue if the developer rents is that the developer may well retain control of the board and may have different interests then real residents.

Yes, Fannie Mae does have a 51% pre-sale requirement on new developments. Most banks have enforced this already. Countrywide has not yet, still negotiating.

spieler1..99 john is going thorugh a conversion, and for the offering plan to be effective they need to sell 15 %, they are nearly there, and we have gotten preapproved with a couple of lenders with 90 % financing..
wellsfargo needs 25 % to be sold..so it's certianley doable.

for a conversion like 99 john any unsold apts they will keep as rentals, thats why they are not really wiiling to over negioate. so im not over concerned about the price being slashed but for having renters that are not well screened, thats the main issue at least in my opnion.

Ok thanks. CCDevi you are right financing is an important factor, as is board control. Still not crystal clear as to why living next to renters is such a bad thing (especially since many condo owners would rent out their units anyway) but that certainly seems to be the consensus. I am considering bidding on a condo unit but of course will be asking for price cut free parking closing costs paid. I love the unit I am interested in but wanted to see if I had not thought this through enough. Thank you

Wait I thought that these units all sold at asking price and people were fighting to get a unit before they increased 30% in the next years. Why are they going to rent these units?

How do maintenance fees and renovations (and other one-time charges) work in a mixed rental/condo? This may be why I would prefer less renters if they were there at all.

dco, you are such an ass. why do you do this? this guy has a legit question about a real topic and you try and turn it into another rent/buy battle. you should be banned.

"Wait I thought that these units all sold at asking price and people were fighting to get a unit before they increased 30% in the next years."

nobody on these boards is saying that. same old same old.

dco..you had promised not to do this, come on, there is hope for you, as we have given up on anoother person on this board that shall remian namless.

sfo- I'm trying. Sorry

that's good enough..the first set to recovery is trying :)