Condos for Sale in North Kingstown – There is Always the Hook
Now? I am wondering how many condo owners really are paying attention to what their condo homeowner association boards or management companies are doing to manage and ensure their condos remain FHA approved and beyond. In RI coastal real estate it is important if you require a FHA loan when borrowing.
Working with sellers and buyers right now that want to be in North Kingstown condos has given me more cause to drill down on a number of points that you MUST know when you are looking at condo complexes. Amazingly, the listing agents for the condos are clueless except to say -‘don’t worry the condo complex is FHA approved’- holy, moley that is not enough anymore based upon current lending guidelines. Agents get on your game and find out needed information before you get buyers enthralled with a unit that will not be lendable unless a substantial down payment or a cash sale is made.
Listing agents in North Kingstown RI do need to spend the time finding out, on their condo sale units, at least some of the following: number of investor owned, number in foreclosure, percentage of those not current on homeowner association (HOA) monthly fees, amount of capital reserves – just to name a few. If you are a creditable listing agent you will know these things to share with buyers agents. What is the hook now? Lenders are being more restrictive than ever because of the losses they are and continue to face with condo complexes. Know how to buy a condo!
In the past days, I have spent time talking to at least three mortgage brokers and lenders to find out changing lending requirements with North Kingstown condos for sale and all of RI. It behooves all of us in real estate to be able to have knowledge and application of the lending changes happening in our condo listing complexes so that it is not just a needed ‘cash sale’ transaction.
Most current North Kingstown condos for sale right here:
Know what is happening in the condo complex is an important part of your marketing agenda – do not just depend upon your seller to know the information. Talk with the Condo Association President or the management company involved. Get your facts straight so you can market that condo properly to a successful sale for your seller.
Call me, Ginny Gorman, today for guidance and representation whether buying or selling your North Kingstown condo at 401.529.7849. Work with a RI real estate agent that is a top selling RI real estate agent because she puts her clients above all else in a home sale or buy. Otherwise, it may just be a stream of hornets waiting to stream at you! North Kingstown RI Condos for Sale- What is the Catch Now?
Ginny Lacey Gorman is your go to RI real estate agent for North Kingstown homes and condos for sale…knowing the geographic area, schools, happenings,important tidbits of local information and businesses well. I work with an agent who knows the RI landscape and does her due diligence for her buyers and sellers!
Waterfront, oceanfront and coastal RI homes for sale are her specialty. If you are looking for someone to guide you through the home selling or buying process, she is a licensed RI real estate agent who sells homes in this Rhode Island real estate market, just call Ginny at 401.529.7849 or email her at ginny@RiHouseHunt.com today.