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Real Estate & Property Law

: Closing Real Estate in Chicago

Condo Trouble w/ FHA Loans

By Peter Olson, Esq.

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Just catching up on my real estate reading and saw this piece from a couple weeks back in the Trib.'s real estate section regarding FHA restrictions related to buying condominiums. Here's the money 'graph:FHA rules wreaking the most havoc locally are a requirement that a building must have four or more units. That means buyers of a condo in a three-flat need not apply. There's also a rule that a building's condo association cannot have a "right of first refusal" as part of its declarations of co read more

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Full post as published by Closing Real Estate in Chicago on August 21, 2008 (boomark / email).

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