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Updated over 7 years ago,
Luke CarlPoster
#3 Short-Term & Vacation Rental Discussions Contributor
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- Rental Property Investor
- Tennessee Florida
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Title Company is calling it a Condo?
I'm supposed to close Friday.
Appraisal came back as a 5 on the risk scale and was red flagged. It's a single family vacation rental cabin in an HOA with 11 other cabins.
The ones that have sold in the past few years were sold as PUDs. Since mine was red flagged its now listed as a condo because of the back woods mountain way the worded he deed 30 years ago.
I have two others cabins in the area (real ones not condos) This will gross big money. Low purchase price.
Should I run away because of all this condo stuff or do I not care? Broker knows nothing about condos I'd be surprised if it'll passes Fannie regulations. Will it be hard to sell??
Need some quick advice sorry I know it's a weird one.