:rolleyes Ok well heres my dellima. Got a house here that we have been looking up on the county records. The deed use to be a corp wd but in 2008 the owners changed from an LLC to Bayveiw Oppertunity Fund Asset T with a warr. deed and not a corp wd. Ok so does anyone think or maybe know if the bayveiw oppertunity fund asset is a co-op and what exactly is a corp wd? The house also stated as a multi. family house on the county records too. The HML we are wanting to use doesnt loan on co-ops. Please respond if you have any info for us or a way to find out some info needed to find out. Thanks for your :help
You seem to be pretty hung up on co-ops. Co-ops are farely rare and where they usually occur would be in a large multi-unit building similar to a condo complex. I HIGHLY doubt that what you’re looking at has anything to do with co-ops. Just out of curiousity, what makes your think this has anything to do with a co-op?
The current owner of the property (Bayview blahblahblah) could be anything from a hedge fund to a private asset manager, etc. Also, what do you mean that the county has it listed as a multifamily when its just a SFH? Are you talking the zoning or what? Of course a HML won’t loan on a co-op because when you buy into a co-op you’re actually buying stock in a corporation as opposed to buying real estate.
As to a “corp wd” , I’m assuming that refers to a corporate warranty deed, which is similar to a quitclaim deed, or a means of transfering title without making representation as to the condition of said title. Probably used when transfering title from bank to another institutional investor, or like an REO to an private asset manager, etc.
:biggrin Thanks for your reply. We found out that the house had been used as an apartment type house, was changed back into a SFH. :smile