Bank owned condos have a hard time getting financing due to under water HOA's and lender underwriting. I posted a blockshopper link to that subdivision and they allow rentals in there. That is a big no no for FHA loans and even conventional financing. Ask your lender if claremont ridge is on the approved FHA list, almost 100% positive it is not and check to see if standard underwriting is OK with it if tenant occupancy, % of owners 30 days delinquent, HOA cash reserves.
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This is a bank owned property which means the owner defaulted on their payments. It is currently vacant but was lived in before. The bank is looking to get rid of all their inventory so they price it cheap so it will sell fast. Would you like to see this home? Please let me know, I can meet you there at your convenience.