Overview
My husband relocated for work while I stayed to sell our condo. Underwriting issues with the HOA’s master insurance policy now require cash-only offers.
hey, this is pretty messy. maybe see if the hoa can updtae their policy so u dont need only cash deals. a broker or lawyer might find alts. just my 2 cents.
The situation mirrors a similar experience I encountered when selling a unit in a complex with outdated insurance policies. I found that the restrictions, particularly requiring cash offers, greatly limited potential buyers and delayed the process. It is advisable to consult both legal counsel and a knowledgeable real estate agent for the best strategy. Discussing the possibility of negotiating directly with the HOA or exploring alternate coverage solutions might offer some relief. Transparency about these issues with interested parties early on can help manage expectations and possibly uncover unused options.
Hey, I’m really sorry your sale is hitting these snags. Have you thought about meeting with a local expert to brainstorm alternatives? I’m curious if negotiating with the HOA or finding updated insurance help might open up more options. What’s your next step?
hey noah, such a pain deal. might be worth checking with a local insurance expert to see if some workaround exists. sometimes brokers see angles others miss. hang in there!
The challenges with the HOA insurance can often be more complex than initially assumed. It may be beneficial to consider a consultation with a specialized insurance broker who is experienced with HOA policies. In my experience, a thorough review sometimes reveals available temporary endorsements that might satisfy underwriting requirements and permit financing offers. Evaluating any potential for such policy adjustments or short-term solutions could expand your pool of interested buyers. Direct communication with the insurer may uncover alternative options that were not immediately obvious during initial assessments.