One issue that has cropped-up often throughout the time I've been a Mortgage Lender (and continues to do so routinely) surrounds the question ... Is the property I'm purchasing really a Condominium ... or is it a Townhome? Just last night, the question came up one more time. My client, who had been told they were purchasing a Townhome, is in fact buying a Condominium.
The Legal Description of the property proves it is a Condominium. The tax Permanent … (8 comments)
"It's the little details that are vital. Little things make big things happen" ... John Wooden As of late, I've been blessed with some very intelligent and engaged Mortgage clients. From our very first communication, each of these clients has been completely immersed in the details of their mortgage process and becoming thoroughly educated about it. They've questioned me about every step of their process. Why this? Why that? And it has been welcomed ...
One of my clients, after receiving his … (20 comments)
condo: If it Walks like a Duck and Quacks like a Duck ... it isn't always a Duck!
- 01/09/13 05:41 AM
If it Walks like a Duck and Quacks like a Duck ... it isn't always a Duck! Condominium ... or Townhome? Which is it? This age old question recently reared itself, had me scratching my head, and doing some major homework and clean-up for a couple of weeks. First, let me give you some background on an unusual circumstance ... My Borrower had transacted for a property listed as a Condominium. Only thing, after a couple weeks into the deal, we uncover that it's legally described as a Townhouse … (46 comments)
Why Do I Need to Jump Through All These Hoops During My Condo Purchase?
A recent blog by Anna "Banana" Kruchten, Phoenix Property Shoppe (Phoenix, AZ) regarding a challenging condominium transaction she had pending, prompted quite a conversation on the ActiveRain website and Facebook too. That didn't really surprise me. I'm asked questions regarding condo sales and purchases all the time. From every sides of the deal, whether it be the Purchase, Sale, Mortgage Financing, FHA approval, or Appraising. Basically the questions always boil down to .... … (13 comments)
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