"This is the problem with buying in a new condo building, you go into contract, they get the 20%-51% in contract that the bank requires to give a mortgage, then you close, now the seller is free to sell all the remaining units to one holding company to rent out or keep them to rent out themselves. The end result is a building that is not Fannie Mae compliant and a buyer of your unit will never be able to get a mortgage from a real bank. End result is your units value is depreciated."?anon [Karl Fischer's Troubled 20 Bayard Relists a Few Units]
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