Property issues
You will want to let your mortgage professional know of any unusual situations with your property, for example if your property is:
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In the middle of construction or remodeling
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A live-work space
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Multi-use: a condominium building with retail or office space
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A condotel: a vacation condominium complex that allows short term rentals
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On a brick foundation
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On a septic or well if not typical for the area
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A condo project in litigation
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A condo project with more than 30% of the units rented
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Clouded with title issues—tax liens, mechanic’s liens, lis pendens, etc.
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In very poor condition
