Happy 4th of July!! As we celebrate the nation's independence, Lyle and I are also celebrating a little news regarding our own American dream. We learned this week that 16 of the 18 units in our condo complex received their Certificate of Occupancy. Now that the CofO has been issued, the condominium charter application can go to the City. Once granted, all-cash and conventional-loan buyers can begin to close. All good news for us!
All that said, we still need to be patient. Our FHA loan will only go through once the property has been approved by the Federal Housing Association. The seller can only submit that paperwork once the condominium charter has been enacted, and who knows how long it will take for FHA approval to be granted.
Realistically? Could be up to six months. For now, we're hunkering down in Astoria and are confident it'll be worth the wait.
The NYPost agrees!
Most interesting tidbit? Our condo development was featured! Meet one of our new neighbors, Chris Salmonese, a 30-year-old oil broker looking for a summer retreat.
We're extremely curious about who else will be in the mix.