Is This Even Legal?
I’m looking at a condo purchase (I know, I know. I do a lot of looking.) and trying to wrap my head around the legality and limits of developer offers like “No maintenance for a year and a half.”
Which basically amounts to sale price inflation, since if the maintenance is $500/mo that is $6000 more I’m willing to pay for the place.
At what point does the mortgage lender or the city agency where you file the sale documents step in and say that it is dishonest. Is there a number value to that? Like any concession over $10k the bank wants to know about?
