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Old 09-14-2017, 03:36 PM
 
Location: Denver CO
24,204 posts, read 19,026,046 times
Reputation: 38265

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Quote:
Originally Posted by BoBromhal View Post
just think, if he had waited until today's mysterious resurrection, he could have probably gotten $250K
since it only sold a few months ago for $155K, I doubt it.

Although that was still a decent premium for that building, all things considered.
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Old 09-14-2017, 07:50 PM
 
7,293 posts, read 4,563,995 times
Reputation: 5437
Quote:
Originally Posted by Conon6 View Post
Bought a condo with stunning city/downtown views for 100k
I couldn't get past this.
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Old 09-14-2017, 08:06 PM
 
109 posts, read 77,800 times
Reputation: 177
Keep in mind that condos are limited when it comes to loans. If you get a buyer who is approved for a VA or FHA loan, you can't sell to them if your whole complex/HOA has not been approved and are on the VA and FHA approval lists. If the complex is now, they may not be in a few years.

You also have to take into consideration resale with conventional loans. Some loan companies won't process a loan for purchase if they aren't happy with complex upkeep or the complex savings account amount. They may also not approve if there are too many rentals or too many people are behind on HOA fees.
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Old 09-14-2017, 08:07 PM
 
7,293 posts, read 4,563,995 times
Reputation: 5437
Just kiddin' on my prior post.
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Old 09-14-2017, 08:23 PM
 
Location: Denver CO
24,204 posts, read 19,026,046 times
Reputation: 38265
Quote:
Originally Posted by ClassicGal View Post
Keep in mind that condos are limited when it comes to loans. If you get a buyer who is approved for a VA or FHA loan, you can't sell to them if your whole complex/HOA has not been approved and are on the VA and FHA approval lists. If the complex is now, they may not be in a few years.

You also have to take into consideration resale with conventional loans. Some loan companies won't process a loan for purchase if they aren't happy with complex upkeep or the complex savings account amount. They may also not approve if there are too many rentals or too many people are behind on HOA fees.
and this has exactly what to do with this zombie thread? This isn't a platform for your anti-condo screeds.
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