All Forum Posts by: Zaheer Hamirani

Thanks for the feedback. It is being offered at a good rate and it seems like they are moving into the direction of converting it into a warrantable condo-association but that is only my speculation. They were 3 people who owned the building. 1 owned 3 units and the developer owned 4 and another individual owned 1. Now it seems like the person who owned 3 is selling all of them. So far 2 have been sold and the last one is expected to come on the market soon. This would leave the building with the developer who would still own 50% of the building(4units) and manage the HOA. Given that the developer is managing the HOA would a situation wherein he decides to increase the HOA by 100% or put in new roof as a special assessment be at his digression as he has 50% of the votes? Thanks

I wanted to know the potential risk associated with buying a condo that has a non-warrantable condo association. I am looking to potentially buy 1 unit in an 8 unit condo building whose HOA is managed by the developer who also owns 3 units and 1 commercial unit which is what makes it a non-warrantable condo association. I financing may be harder than the typical route and potentially higher interest rates but is there anything else i should be looking for? Thanks.

Hey, I am a new member and am looking for a property in Chicago. 2bed 2 bath in a elevator building. I have reached out to a few agents and use Redfin to look for property listings. Most of the listings my agents send me are on Redfin too and I'm guessing that's because Redfin pull listing from mls. Does anyone have any other suggestions as to why I can look for properties/listings? Thanks