Legal Question in Real Estate Law in Illinois

Is FHA still accepting condo association waiver letters for the "first right of refusal" language in Illinois condo declarations for securing a spot approval? I heard they are not; and I know that that is one of the questions on the FHA loan spot approval checklist....

I have a buyer who made an offer to buy my condo but wants to use FHA financing. Is a likely that they will be able to close this transaction using a FHA loan given the language in my condo decs?


Asked on 9/01/09, 10:15 am

1 Answer from Attorneys
Joseph Michelotti Michelotti & Associates, Ltd.

no they can't have a right of first refusal

Read more
Answered on 9/06/09, 5:54 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois