Tag Archives: condos

The ABCs of HOAs

The ABCs of HOAs

Condos are a popular option for many home buyers in San Francisco. Prices for condos are more affordable, and there’s less upkeep involved. For busy professionals, condos are generally a better fit than single-family homes.

The residents within a condo building are part of a homeowners association (HOA). In larger buildings, there’s usually an HOA board, too. These entities make decisions about the property with respect to expenditures, special assessments and other issues that arise. Continue Reading

My Top 5 Condo Deal Breakers

You’ve spent three hours looking at various real estate Web sites and have narrowed down your favorites for this weekend’s open house touring.

In the end, three of those units have HOA dues that are well above what you can afford, and another two have serious pet restrictions that won’t work for your two yellow Labs.

Knowing the fundamentals about a condo and its HOA can save you time when it comes to targeting your search. Here are my top five deal breakers to help you narrow down your prospects. Because let’s face it, you can only see so many homes between 2:00 and 4:00 on a Sunday: Continue Reading

Top 10 Questions to Ask About a Condo

Our current loan landscape is more complicated than ever, and it’s important to vet a particular unit and HOA alongside your lender before you even submit an offer. To that end, our team at Guarantee Mortgage assembled a list of key questions you and your Realtor should have answered (either through the disclosures or the listing agent) before you get your contract going. Lenders have many restrictions these days, and they’re related to these key areas: Continue Reading

New FHA Condo Rules Restrict Buyers

New Federal Housing Administration (FHA) financing rules for condo buyers are already limiting purchases—particularly in new developments.

The FHA is now limiting the number of buyers who can obtain loans insured by the agency in one building, effective as of Monday. The rules also put limits and a lot more restrictions on loans granted to buyers purchasing units in buildings which have too many delinquent owners, poor finances and high quantities of rentals. Continue Reading

Contact Eileen for Real Estate Help

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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