shercecil93, Home Buyer in Ocala, FL

How are you approved to live in a condo. I know nothing of the process.

Asked by shercecil93, Ocala, FL Wed Feb 20, 2013

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Answers

5
if you are talking about buying a condo at OTOW, there is a process to be followed. most of the answers you read are incorrect. please call us. we have lived in this community for 13 years and we are both realtors.
barbara schinn, olympia gold team realty
727-278-1135
0 votes Thank Flag Link Tue Mar 5, 2013
If you are 55 plus and what to live in a Condo it depends whether you Buy or Rent. It's not as hard as it sounds to live in Top Of The World. Age Restriction is the only thing, the rest is for your benefit.
0 votes Thank Flag Link Mon Mar 4, 2013
First you will be asked to complete a Rental Application and pay a processing fee. Once the association has run a background and credit check on you, a "meet and greet" will be arranged. At that time the rules and regulations will be reviewed, and your parking spot will be assigned. Usually, the process requires 15 days.

Vangie Pappas
Pappas Realty & Management Co.
727-501-3268
0 votes Thank Flag Link Thu Feb 21, 2013
We are planning on buying a condo not financing or renting. Why would they do a credit check on someone? Our credit isn't the best but we do not have a criminal background. We live in Ohio so does that mean we would have to be there for all of this?
Flag Thu Feb 21, 2013
our market is On Top of the World: the largest condo community in the United States. once you have a fully-executed contract, your agent mails a copy of it with 2 business cards to the approval dept.

they then call your agent and schedule a mandatory, on-site approval interview for you. the interview must be 7 days or more before closing.

they look to see if you are capable of living an independent life style, they look at the contract, too.
you can't finance more than 65% of the purchase price.

interviews are only on tuesdays and wednesdays. approval is thurs and fridays. then they mail the approval to the title company. only rarely is anyone ever not approved.

hope this helps. you must be 55 years old to live here at OTOW. call me with questions: 727-278-1135.
have a nice day!
barbara schinn
0 votes Thank Flag Link Thu Feb 21, 2013
You will have an application to fill in and based on that the condo association will decide
0 votes Thank Flag Link Wed Feb 20, 2013
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