Andante litigation settlement

by Eric Chang on September 29, 2009

Our contact at CitiScape Property Management called me today with excellent news. The Andante Emeryville’s HOA and developer have finalized the settlement agreement.

This means the pending escrows at the Andante, including mine, can move forward – for those whose buyers are financing their purchases. Litigation involving the HOA is just a reality of common interest development ownership. For newer communities, you’ll often see litigation involving “general structural defects” crop up before (or close to) the expiration of the developer’s warrantee – often ten years. Whether the litigation involves a complex or simple matter, it will tie up a buyer’s financing, especially during such times of heightened lending standards.

My pending listing, Unit #5406, happens to be a short sale. Fortunately, I was able to negotiate with the property’s two lienholders – ING Direct and Wells Fargo – to secure short sale approvals a couple weeks ago. The HOA litigation was the remaining item holding us up.

Most agents would have refused this listing. (Two notes, under different lienholders…plus litigation…yikes!) But hey, just do the work, let the stars align…and at the end of the day, I’m just glad I helped my client avoid foreclosure.

Congrats to all the Andante homeowners! With the litigation behind us, it’s much easier now to reconvey ownership.

The Andante’s in any excellent location – many shopping options, close to Pixar campus – and I look forward to helping more sellers in the future. I’d love to continue moving people into there…

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