How to Save Yourself Heartache When Buying a Florida Condo

To that end, there’s a laundry list of details to be obtained about the property, the association, and the subdivision itself; and there is nothing proprietary about any of it. The information needed is clear and pretty easily acquired. We need only look to the condo questionnaire for things like:
•What is the delinquency rate on HOA fees by the existing owners?

When is a Bedroom Not a Bedroom?

The “existence of a closet” has always been the amenity Realtors reference. However, a listing agent recently had a home on the market as a 4/2/2. It was correctly assessed as a 3/2/2 at time of appraisal. And it wasn’t the closet in question in the fourth bedroom…it was the proximity of a bathroom.

All in the Mortgage Family

With people living longer in general, there are fortunately some opportunities for family members to assist one another in certain potentially dependent situations. This is not a widely-publicized program, but it can be a life saver and offer some tremendous opportunities.

Fannie Mae allows a relative to purchase a home for elderly or disabled family members.

Mortgages in Florida and Running with Scissors

The thing that held up the whole show was an undisclosed liability discovered when the credit report was pulled right before closing. Always in the Top Ten Things Not to Do Before You Close on Your Home, whatever happens in that time period between loan pre-approval and the subsequent underwriting process is not only fair game, it could kill your deal.

At the end of the day, don’t run with scissors and don’t ignore the mortgage professional. We managed to get this loan closed, but you’re not going to dodge the Fannie Mae’s of the world by thinking you can hide stuff because you know more than I do. Not when it comes to mortgages anyway…

Tampa Bay Mortgages and Fear of Flying

At the end of the day, it always comes back to trusting tried and true professionals. You’re not going to skydive alone the first time; you’re going to have someone educate you on maneuvering and navigating away from dangers until you succeed.

The housing market may be more perilous than ever, but today’s market offers chances of a lifetime when you place yourself in the company of people who know how to land.