A condo questionnaire killed a loan, then two phone calls brought it back in four hours. Plus a live seller call comes in on air.

Boston real estate agent Seth Williams and real estate attorney Nick Nardone get into the August condo lending shakeup that is quietly wrecking Boston deals, a $25,000 re-trade after a clean inspection, and what clean versus dirty 6D really means at the closing table. Then the bat phone rings mid-episode and you get to hear a seller lead handled start to finish.

In this episode:

• The new Fannie Mae and Freddie Mac condo rules: 15 percent reserves and the end of limited review
• A lender denied the loan over an unanswered questionnaire, and how Nick reversed it in four hours
• Self-managed associations with no condo fee, no reserves, and no shot at financing an $800,000 buyer
• A buyer came back for a $25,000 credit five days after giving the all clear
• The 6D certificate, super liens, and why a dirty 6D is not the emergency everyone treats it as
• P&S Section 52 and who eats an assessment levied before closing
• Net versus gross commission, and the closing disclosure nobody reads in time
• Insurance carriers auditing roofs by drone and canceling policies after the fact
• A live on-air seller call from an out-of-state owner selling a Jeffries Point single family
• Overrated or underrated: Labor Day open houses, balcony grills, suspiciously low condo fees, and listing into the fall market

Chapters:

00:00 Cold open: Nick has never eaten an Italian sub 13:38 How to actually grill wings, low and slow 28:00 Deal flow: a real Euro August slowdown 30:16 The $25,000 re-trade after a clean inspection 35:33 Two adjacent Chelsea four-families and the tear-down math 41:34 Fannie Mae and Freddie Mac: 15 percent reserves, no more limited review 46:05 A condo questionnaire denied the loan, then two phone calls fixed it 50:37 Why the agent has to be the mouthpiece or get cut out 55:53 The 6D certificate, super liens, and estoppel 59:39 Clean 6D versus dirty 6D at the closing table 66:25 Commission statements, net versus gross, and the CD nobody reads 71:41 Insurance carriers auditing roofs by drone 73:57 A live seller call, on air, from Kentucky 87:50 Speed to lead and tracked phone numbers 90:50 Overrated or underrated, Labor Day edition 98:22 Condo due diligence before you write the offer 100:38 Listing after Labor Day and the fall market 102:08 Over/under: trucks getting Storrowed on September 1

Seth Williams runs Reference Real Estate out of East Boston, a team of 14 agents on pace for over 200 sales this year. Buying or selling anywhere from Winthrop to the South Shore, start at sellinboston.com. Nick Nardone is a Massachusetts real estate and condo attorney who spends his week closing deals and untangling other people's paperwork.

Bad Deals Only is made for entertainment. Nothing here is legal, tax, or financial advice, and no attorney-client relationship is created by listening. Talk to your own attorney and lender about your specific deal. Explicit language throughout.