Building mortgage-what’s normal?

Are there any red flags to look for concerning the underlying mortgage of a co-op building? For example, a place I looked at (didn’t end up making an offer) was a 4 unit brownstone co-op with, according to the broker, an underlying mortgage of about $500,000. Bad? Good? Okay? Any advice on the topic would be appreciated.

By lula_mae | 06/08/2009 6:49 PM