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I need to move out of my apartment in NJ by 6/30/17. I came down last week to the Riverview/Brandon/Gibsonton area to check out rental homes. I don't have the best credit, but after I provided proof of income in the form of bank statements (I run my own business), I was approved by Waypoint Homes and another property management company. I also wound up being approved for a third property - my first choice home in Riverview, FL! Obviously, I went with my first choice, but now I'm starting to get this creeping feeling I made a BIG mistake. Let me explain:
- I have signed the lease on 6/19 for my first choice property. However, no money has exchanged hands, and they tell me they are waiting on the HOA approval. I have also been told that the lease is "non-binding" until payment is rendered.... but I can't pay until the HOA approves me (payment is by direct deposit and the Listing Agent will not give me payment info until after HOA approval).
- My realtor keeps telling me not to worry, the HOA check is only criminal background, but the Listing Agent told me it was criminal AND credit. Neither seem to know for sure. I am not worried about either check, but what worries me is that unlike the other homes I was approved for, I haven't been asked for any of my bank statements or proof of income. For this property, they just had me fill out a form with my name, address, other relevant info (SSN, previous address/employer, etc) and a professional/personal reference. (to my knowledge, neither reference has been contacted)
- I am packing the UHaul and hooking up my car for a tow for the drive down on 6/28. I am leaving on 6/29, only 6 days from now. I have already booked my moving help both in NJ and FL, and I have a UHaul reservation. Both my realtor and the Listing Agent told me not worry, schedule my move, I've got the house... BUT I am becoming extremely nervous as the day of the move approaches and there has been no movement on this supposed HOA Approval.
So my big questions are: am I being jerked around for some reason?? Are HOA approvals mere "formalities" to make sure you're not a murderer/rapist or are they a more in-depth background check? Should I be worried and should I be contacting the other agents who approved me in case this house falls through?? I mean I signed the damn lease for this property... in 25 places, no less... but it doesn't feel real until I give them that deposit check. I feel like they're going to slam me with demands for proof of income or something like that at the last possible minute (like when I'm already on my way down or something crazy like that). Are my feelings to start looking elsewhere justified or should I just sit tight and wait for the HOA approval?
Listen to the advice of the real estate professionals. Worst case you wind a daily rate rental and look for another place. HOA approval won't ask for your pay stubs as they don't care if you can pay or not, they aren't making money or risking their asset on this deal. Some HOAs are slow to act on some things so just calm down a bit and be patient.
Listen to the advice of the real estate professionals. Worst case you wind a daily rate rental and look for another place. HOA approval won't ask for your pay stubs as they don't care if you can pay or not, they aren't making money or risking their asset on this deal. Some HOAs are slow to act on some things so just calm down a bit and be patient.
Okay cool, that's what I needed to hear. This is my first experience with renting a home/an HOA, and this is a last minute move, so my nerves are a little frayed.
Thanks for the advice,
Charlie
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