North Kingstown RI Condos for Sale- What is the Catch 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.
Working with sellers and buyers right now that want to be in North Kingstown condos and beyond 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, moly that is not enough anymore based upon current lending guidelines. Agents get on your game and find out needed homeowners association 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 condos for sale and beyond do need to spend the time finding out at least some of the following items: number of investor owned condos, number in foreclosure, percentage of those not current on condo homeowner association (HOA) monthly fees, amount of capital reserves - just to name a few. These former noted items are a start. If you are a creditable listing agent you will know these things to share with buyers agents. What is the catch now? Lenders are being more restrictive than ever because of the losses they are and continue to face with condominiums around the country.
In the past days, I have spent time talking to a number of mortgage brokers and lenders to find out changing lending requirements with North Kingstown condos for sale and condos all around 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. It is different than listing a single family home so realize it and do your due diligence for your client.
Knowing 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 HOA President or the management company involved. Get your facts straight so you can market that condo properly to a successful sale for your seller. Otherwise, it may just be a stream of hornets waiting to sting you! North Kingstown RI Condos for Sale- What is the Catch Now?
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Ginny Lacey Gorman knows North Kingstown RI and the geographic area, schools, local happenings, important tidbits of information and businesses well. If you are looking for someone to guide you through the condominium or home buying or selling process, Ginny is a licensed Realtor® and would be happy to assist you. Doesn't it make sense to work with someone who knows the community you want to live in well? Waterfront, oceanfront and coastal RI homes for sale are her specialty but all of RI is her backyard. So feel free to search for RI homes for sale. When you are in need of more information from an internet savvy Realtor® who sells RI houses in this real estate market, call Ginny at 401.529.7849
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