This transaction was another short sale in downtown San Jose, a condo. Wells Fargo was the bank and I must say, this transaction was one of the smoothest short sale transactions I have had thus far! It only took about one month for short sale approval, which is almost a record for the transactions I have been [...]
Entries Tagged as 'condo homeowner'
The Buyers Who had Only 60 Days to Buy and Close the Transaction
April 19th, 2010 · Comments Off · condo homeowner, first time buyer, homebuyer, new home, real estate, tax credit
These buyers are a very sweet couple buying their first home and they had forced motivation put upon them for buying quickly in that after 19.5 years of living in the SAME apartment, they got a 60 day notice from management. Can you believe it? A faithful tenant for 19.5 years paying his rent on time all those years, and the apartment [...]
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Say Goodbye to Spot Approvals for FHA loans in Condo/Townhome Communities
February 9th, 2010 · Comments Off · FHA approved, FHA loan, condo homeowner, condo/townhome, first time buyer, real estate
Why FHA decided to end spot approvals is a complete unknown to me and is definitely not good news for FHA buyers and condo/townhome communities that are not FHA approved. As of February 1, 2010, FHA no longer allows spot approvals in said communities. A spot approval is one in which FHA looks at an individual unit, the HOA documents, and [...]
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