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Ask Millionacres: What Does It Mean If My Condo Is Non-Warrantable?

[Updated: May 20, 2021 ] Jan 10, 2021 by Matt Frankel, CFP

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We have a condo in North Carolina on a property that has six residential townhomes and commercial property that's all professional offices. There are four buildings total, so the space is not all in one building. We had a buyer, but his lender determined that because there is more commercial space than residential, the condo is non-warrantable. Should we make an appeal to the city to reclassify the property as townhomes? Would that make a difference with lenders? Or would we have the same issue about the residential/commercial space ratio? -- Jill

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