Home Buying in Whiskey Creek>Question Details

Floridadream…, Home Buyer in 33916

55 Plus community

Asked by Floridadreamer, 33916 Thu May 17, 2012

Im look ng to buy a condo and its a 55 plus community(im 45) amd I want to put my mom on the deed( she 55 plus and will stay there at times) but she will not be on the mortgage, what i want to know is, if this is aloud..?

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You will probably encounter your first problem with the mortgage company, there should be an "over 55 " addendum with your contract, the lender will see your age on the mortgage application and wonder why you ar buying in an over 55 community. You will also have problems with getting approved by the association. The associations approve all new residents and typically the selling price, they will probably ask for a copy of your drivers license. You better get an attorney if you are going to do this to make sure you don't get into trouble.

The most important thing a buyer can do is first of all work with a buyer broker.” As stated by AARP and the Consumer Federation of America from REALTOR® News.

Having lived in Florida since 1965 and selling real estate in Southwest Florida since 1981 I am happy to talk with you about the different areas. Call me anytime. I’m friendly and easy to talk to. I am Beverly Howe, the original Florida Buyer Broker and one of the only “genuine” buyer brokers in all of Southwest Florida. There is NO extra/hidden or additional cost for you to obtain my specialized “exclusive” buyer broker services in your real estate transaction.
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Foreclosures - the Wild West of Real Estate
Unrealistic Buyer Expectations
Buyer Beware
Chinese Drywall

There is no obligation required of you to access this important free educational information on my homepage. The site is informative but does not give the buyers the benefit of my 30 years experience working in the Southwest Florida real estate market unless they call me to schedule time for me to work with them. So, don’t hesitate to call. I am the broker who will actually assist you in finding the best property in your price range and have extensive experience working in 2 counties to help you make sure you are getting the best bang for your buck. It’s best to schedule my time in advance.
On my general “Search Property” link you will be able to search property anywhere in Florida. Please see “Search thru MLS Data” on my homepage to for instructions on how this search link works.
On the “Search thru MLS Data” on my homepage you will find instructions on how to access the different searching options including local REALTOR® MLS data to “search like an agent.” Once you set up a profile on these links, you can save your search and you will automatically be notified when new listings or price changes become available which meet your criteria. It is important that you give yourself at least 15 minutes to sign in and complete an entire search prior to leaving the system in order to set up the program properly. Your search will then be saved and you will be able to change your criteria anytime in the future. I recommend scrolling down the criteria choices and putting a “don’t want” in the short sale box. You want to get a good idea of what is available, don’t base your decision to buy on a short sale.

You will need to copy the links below and paste in your address bar OR go to the Menu Bar on http://www.floridabuyerbroker.com to click directly on the links to access “Collier Search Link or Lee Search Link.”

To Search Lee County - Cape Coral, Ft. Myers, Estero, Pine Island, Lehigh, Sanibel Island, Fort Myers Beach and Bonita Springs:
http://www.buyerbroker.listingbook.com

To Search Collier County - Naples, Bonita Springs (Part of Bonita is in Collier County and Part is in Lee County) Marco Island and surrounding areas: http://www.floridabuyerbroker.listingbook.com
Many homes built between 2000 and 2009, including some renovated homes in Southwest Florida were built with Chinese Drywall. I hope you will take time to learn more about this serious problem at the Chinese Drywall link on my homepage.
I assure you it does not cost you more to obtain my specialized buyer broker services. In the State of Florida only a buyer broker can legally negotiate for a lower price for the buyer and must take care of the buyers’ best interest through out the transaction. A buyer broker is required to give the buyer loyalty, confidentiality, care and diligence, accounting, disclosure of all known pertinent facts and your financial status is protected.
This is my 30th year selling real estate in the Southwest Florida. I have been working as an “exclusive” buyer broker since 1993 and licensed to sell real estate in Florida since 1981. Please feel free to call me anytime on my toll free number 1-800-283-7393.
I am friendly and easy to talk to.
Beverly Howe, ABR, GRI, TRC Informative homepage: http://www.floridabuyerbroker.com
Owner – Broker
Email: broker@floridabuyerbroker.com Florida Buyer Broker
Local Direct: 239-601-2013
US and Canada Toll Free: 1-800-283-7393
0 votes Thank Flag Link Wed May 23, 2012
Good Afternoon,
An avenue to look at is to have you and your mother on the deed, as Joint Tenants in the entirety,with right of survivorship. I suggest, you also verify with a Florida Attorney.
In this case she will qualify for the 55 plus community.
Regards,
Ed Humbert, GRI,MBA,PMS,SRES
Advanta Realty, LLC
239-464-9855
http:ehumbert@advantarealty.com
0 votes Thank Flag Link Fri May 18, 2012
Good Morning Florida Dreamer !
I would be pleased to do some research for you on this question. Would you mind providing me with a little additional information? What community are you looking at? What is your objective in purchasing 55+ at this time? Do you plan to use it as a vacation home for you and your family? A future retirement home for your mom? I would be pleased to work with you to achieve your objectives.
Thanks for the question.

Mike McBride
Marlin International Realty
mike@marlinir.com
239-405-4955
0 votes Thank Flag Link Fri May 18, 2012
You or your attorney needs to review the condo/HOA docs for the 55+ community that you are looking at. Most require the primary resident of the unit to be 55 or older.

Here is a resource to learn more about the popular 55+ communities in the Fort Myers area and also view active listings in these communities: http://www.greaterftmyers.com/fifty-five-plus.php

Good luck with your search!
0 votes Thank Flag Link Thu May 17, 2012
Only the assication can tell you there rules some will not let you do that. If you are not 55 or more you can visit not stay longer than the time there by laws say.
About the mortgage I do not think you can do that if on deed must be on mortgage check with a mortgage person.
Go to my web site http://Www.ManganoRealtyTeam.com
Find up to the minute listings and an easy to search site.
guy mangano
0 votes Thank Flag Link Thu May 17, 2012
Why do you want to buy in a 55 plus community? You would be restricted as to the number of days you can be there because you are not 55.

I would be happy to discus your reasons and give you options to meet your needs.


Linda Tuffree
Keller Williams
239-233-7077
ltuffree@gmail.com
0 votes Thank Flag Link Thu May 17, 2012
My friends have a place in Whiskey Creek and I hace stayed there a few times and I like it beacuse it quiet, close to the beach, and everything outside is taken care of so I wouldnt have to worry about that because I want be able to be there alot.
Flag Tue Jun 12, 2012
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