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Old 03-25-2012, 01:48 PM
 
Location: state of enlightenment
2,391 posts, read 4,666,723 times
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I'm seeing some decent looking condos under $25k on Realtor.com, not all of them in east LV. Sometimes the selling price is quite a bit above asking price so I'm wondering if these prices are realistic.
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Old 03-25-2012, 03:00 PM
 
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Realtor.com is not always up to date and from what I have seen, you do not want to live in a $25k condo.

It is very difficult to get financing because for a mortgage company, they want at least 50% owner occupant and many of them have been bought with cash and rented out. When we were looking at condos, we found that HOA fees could be quite high. Make sure you look into that if you go with a condo.
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Old 03-25-2012, 05:37 PM
 
Location: state of enlightenment
2,391 posts, read 4,666,723 times
Reputation: 2435
Quote:
Originally Posted by Everdeen View Post
Realtor.com is not always up to date and from what I have seen, you do not want to live in a $25k condo.

It is very difficult to get financing because for a mortgage company, they want at least 50% owner occupant and many of them have been bought with cash and rented out. When we were looking at condos, we found that HOA fees could be quite high. Make sure you look into that if you go with a condo.
I'll be doing all cash and HOA fees are one of my concerns. I'd prefer a SFH but if HOAs are reasonable a condo may work.

Last edited by geos; 03-25-2012 at 05:47 PM..
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