This will be asked when buying a condo in the USAApplication and Approval
If you ever decide to buy an apartment, there are a few things to keep in mind. Because the lender will ask you questions and this may affect your approval.
The bank wants to know if there’s any litigation in the building. So even if the neighbors are suing each other, your approval may be affected. Yes, even if you are not part of the process.
The coverage should be sufficient to cover the entire building.
Make sure the building has enough funds to support itself and pay all the bills and so on.
These are just a few of the things a lender will ask for. But I advise you to think about them in advance!