You found your dream home and are ready to make an offer. Do these four investigative measures before you sign on the dotted line.
1. Talk to would-be neighbors. Ask how they like the area, how are the schools or if there are any problem activity nearby.
2. Check your commute. Drive from your possible new home to work during rush hour to see how long it will really take. If you use the bus, then take the daily bus you would use to commute.
3. Check crime data and sex offender databases. For crime statistics go to faxnet1.org or search the internet for your local crime statistics link. For sex offenders go to azsexoffender.org or search the internet for your local sex offender database line.
4. Read up. Investigate the location of nearby dairy farms, jails or proposed freeway developments or alignments. Call local Planning and Zoning for additional proposed developments.
5. Make multiple offers on multiple properties. You can make sellers compete for your business. Just make sure the Realtor provides the correct verbiage so that you don't end up buying several properties. This won't always work but in the current Seller's market it's worth a shot.
Linda Shank is a local real estate broker in the Southeast Phoenix Valley. She can be reached on her website www.ISellAZSunshine.com or on this blog.
Showing posts with label Arizona retirement communities. Show all posts
Showing posts with label Arizona retirement communities. Show all posts
Wednesday, February 3, 2010
Friday, January 22, 2010
FHA Finance & Condos
Here's what you need to know about getting an FHA loan for a condo:
FHA requires that a condo is FHA approved. You can go to the FHA-approved condominium projects site at: https://entp.hud.gov/idapp/html/condlook.cfm Put in the Condo project name or other details and you will be able to determine the FHA approval eligibility. If the condo is approved, then a condo questionnaire must be submitted to the Homeowner's Association for completion. This will determine if the project meets the investor guidelines such as owner occupancy ratios, association minimum reserves, HOA fee delinquencies and any potential or pending lawsuits within the project. If the Project isn't an FHA approved project, then that's something you could discuss with your lender or Realtor.
Linda Shank is a Real Estate Broker/Owner in Phoenix's Southeast Valley Gold Canyon. She can be contacted at www.ISellAZSunshine.com
FHA requires that a condo is FHA approved. You can go to the FHA-approved condominium projects site at: https://entp.hud.gov/idapp/html/condlook.cfm Put in the Condo project name or other details and you will be able to determine the FHA approval eligibility. If the condo is approved, then a condo questionnaire must be submitted to the Homeowner's Association for completion. This will determine if the project meets the investor guidelines such as owner occupancy ratios, association minimum reserves, HOA fee delinquencies and any potential or pending lawsuits within the project. If the Project isn't an FHA approved project, then that's something you could discuss with your lender or Realtor.
Linda Shank is a Real Estate Broker/Owner in Phoenix's Southeast Valley Gold Canyon. She can be contacted at www.ISellAZSunshine.com
Subscribe to:
Posts (Atom)
