Friday, July 3, 2015

They're not sure if they have a condo or an individual home


DEAR HARRY: My children bought a townhouse in a newly constructed community in Pennsylvania. They have a letter from a prominent law firm indicating that they had a condo. Now they would like to move to New Jersey because they both have new jobs there. Their Realtor says that the home never was a condo. There is no record of any condo association or other evidence. They tried to reach the law firm, but it has since dissolved. They were told that they have to sell the property as an individual home, not a condo. Because of that letter, their bank won't give a buyer a mortgage as either an individual home or a condo. They had a cash buyer, but he wanted to "steal" the house. There has to be a way out. Help!

WHAT HARRY SAYS: Step 1 is to see if any other homes were sold and how those sales were handled. Follow that pattern. If they are the first sellers, and that letter has an identifiable signature, they may be able to find him through the bar association. It appears to me that the letter was prospective and that the creation of a condo never actually took place. Have their Realtor help them through this. A title search will get the answer. Once the title is insurable, a mortgage will not be impeded.


Email Harry Gross at, or write to him at Daily News, 801 Market St., Philadelphia, Pa. 19107. Harry urges all his readers to give blood. Contact the American Red Cross at 800-Red-Cross.

Daily News Personal Finance Columnist
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy: comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
comments powered by Disqus
Also on
letter icon Newsletter