Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
Banks ARE willing to loan in downtown Miami. An agent should not put a blanket statement on what financial instituations will require from a buyer as this varies from building to building.
Banks have very strict guidelines they adhear to when determing what percentage down they require from a buyer. They look at questions pertaining to the building such as,
What percentage of the building is non owner occupied?
How many owners are 30 days or more delinquent with their hoa fees?
What percentage of funds are in the buildings reserves?
It is important for an agent to know what buildings are financially sound in their market. This will save you time when looking at properties. Its a waste of time looking at a building that a bank will not lend in.
Neo Verticka which is located on the river is a great building, financially sound, good appraisal value, great deals.
GZI Real Estate