A Buyer's agent REALTOR could help you with your search. They can look at comps in the area and give you a good idea of a reasonable offer. If your offers are too high you lose money ... and if too low, the seller may not consider your offer at all. Each condo complex has it's own history of sales and issues.
If the condo is a Short Sale, whether you have cash or a loan, the process will take months. If you are willing to wait, you can usually get a pretty good deal.
For resale purposes, you want to try and find a condo in a mostly owner-occupied complex. Many condos are rented out, and the banks are now requiring a certain percentage of condos (35-51%) within a complex be occupied by the owners for certain loans (like FHA). So, if the owner percentage is high now, it stands to reason it may stay that way for when it's time for you to sell, thereby increasing the number of potential buyers at that time.
Remember there is no cost to you for a buyer's agent REALTOR. I'd be happy to show you properties and act as your buyer agent.
Representation with Integrity!
Keller Williams Realty, the Marketplace 1
I'll let someone else tackle the litigation issue.
There are many buyers with cash out there. It really depends on what the comparables are when you're offering cash. The same answer for the 2 bedroom unit. It's all about the comps and talking to the listing agent to get information what the situation is with the bank. Some background work needed before putting an offer. As for the litigation if present, I would shy away from that situation. Litigation usually lasts for a few years and when you try to sell it, you'll cut out a lot of people who are trying to get mortgages. Lenders usually don't want to lend if the condo complex has a high amount of rental units and litigation present. If you need comps or help you're welcome to contact me.
Roy De Guzman
(702) 308 - 1509
Feel free to contact me at any time and I wish you the best with your offers and purchase.
The Karten Group at Realty Executives