Complaint / review text:
I own a condo at garden Meadows Derry, NH. Because of hardship, I have to sell the condo. Of 92 condos in the complex, Sutton says 51 are rented and 41 are owner occupied. They get that number by assigned parking spaces they have on record. With this kind of ratio, a buyer would have to have 20% down to get a loan. The banks want a 50/50 owner/renter for FHA financing. There is no way around it.
I found that the town of Derry sends the property tax bill to 47 owners in that complex. You have to assume that 47 owners live at the 92 unit complex. This would make an over 50% owner occupancy ratio and a buyer could get finance with less than 20% down. Sutton will not even consider this. A rep named Jessica was rude and would not even talk to me. What they are doing is not right and lessens the value of our property. The 41/51 owner/rent number is just an estimate by their word.