Home Buying in Singer Island>Question Details

Vr, Home Buyer in New York

What does "buyer approval" and "interview required" in a condo listing?

Asked by Vr, New York Wed Mar 20, 2013

What does it mean in a listing when it says "buyer approval" and "interview required" for a condo? Is this like the lengthy application process for a New York co-op? Must an application be submitted with copies of financial records?

In the MLS details for both Martinique II and Seawinds North Condominium on Singer Island, for instance, the listings say "buyer approval" and "interview required." It says the same for 1616 Sea Cove Condo in Vero Beach.

I am interested in buying a beachfront condo in the $500K to $700K range. I would be buying all cash. After closing, I will have at least two times the purchase price in liquid assets. I am a natural-born US citizens with sterling credit and no arrest record plus excellent references. I would not rent out the unit as it will be my home.

So what's this approval/interview all about?

Thank you in advance for any info.

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Answers

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Dear Vr,

The application and approval process is customary in south Florida for any condominium, town home or single family residence and more often than not nothing more than an orientation designed so you understand the rules and regulations of the community. By law property managers can take up to 30 days to process the application but it usually is much, much quicker. From a phone call and paperwork submittal and payment of fee which is usually in the $150+/- range to formal interviews with board members each association is different. We have those who require DNA testing of any pets so they can test anything left laying around in common areas.

As with the overall market the best condominium units and buildings are in strong demand but still plenty of inventory. In this market many units that have been listed awhile are probably richly priced so make sure you do complete homework when making offers. Singer Island is awesome but you might also consider the Juno Beach and Highland Beach areas for oceanfront living on the sand. There are opportunities in your price range in all areas.

Whether you are looking solely on Singer Island or just your perfect home in the Florida sun you are best suited to be working with a Realtor® who is looking out for your best interests in this constantly changing market. A very clear description of your specific requirements is the best place to start and if I can be of service to you and your family I would appreciate the opportunity to be one of the buyers agents you may choose to interview. We cover all of Palm Beach and Martin Counties and are experts in finding our clients that "needle" in the haystack.

Best of luck and if I can offer anything additional please let me know.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
0 votes Thank Flag Link Thu Mar 21, 2013
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