Home Buying in 32807>Question Details

Debbydip2004, Home Buyer in Orlando, FL

i should receive close to $40,000 from my fathers' estate soon. i want a condo, but don't know condo fees. help! saw some on s coway. like

Asked by Debbydip2004, Orlando, FL Fri Jun 17, 2011

1940 ty how to go about buying. i will be paying cash. not sure where to go or what to do.please e-mail me at debbydip2004@yahoo.com. thanks so much.

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Answers

4
Hi Debby,

I have another opinion about condos..... Right now it is very difficult to get a mortgage in most condo complexes so that is why prices are so low.

There are lobbyist trying to encourage easing of FHA requirements for condos so buyers can obtain a mortgage with only 3.5% down.

If these lobbying efforts are successful, condo prices will certainly rise. If they cannot get the mortgage underwriter requirements loosened then yes a condo may be a very risky investment.

So if you are a risk taker then go ahead and buy a condo! Also you have to do a lot of homeowrk about the complex because those that have a lot of non-paying owners that are in pre-foreclosure will probably not pay their condo fees so you and the other paying owners may see your fees double.

Good luck and find a Realtor in Orlando and they can set you up with a ListingBook account and it will show the condo fees.

All the best,
Alma
1 vote Thank Flag Link Sat Jun 18, 2011
Hi Debbie, Every condo has it own unique requirements, amenities and fees. I am providing you with a high lights on some of them.

Liberty Square complex - start @ 28K and the HOA fee are 215/per month
Sienna Place Start @30K - Monthly Fee are 197
Village Marquis Start @ 23K and monthly fee are 236
Metro @Michigan Park 2/2/ - starts @32K - Monthly Fee - 267
Village Square a 2/1 Starts @ 35K - Monthly Fee $180
Regency Garden a 2/2 Starts @ 36K - HOA Fee $318/per month
Wimbledon Park a 1/1 Starts @40K - HOA Fee $246/per month

My 2 choices will be Liberty Square & Wimbledon Park. Community is excellent. If you would like more information, email me at ada0425@yahoo.com

Thanks.

Ada Sanchez
Pacific Atlantic Realty
407-342-2664
ada0425@yahoo.com
0 votes Thank Flag Link Sat Jun 18, 2011
my opinion is stay away from condo's. they are getting harder and harder to finance and because of this they continue to lose value. i own 2 personally and i know some people will disagree but its my own personal opinion from being in the business. Good luck!
0 votes Thank Flag Link Sat Jun 18, 2011
You should contact a Licensed Real Estate Professional in your area. I'd highly recommend you call Coldwell Banker in Orlando at (407) 694-5907. As a Buyer, there are no charges to you - the seller pays your agent through a commission split.
0 votes Thank Flag Link Fri Jun 17, 2011
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