Market Conditions in Newport>Question Details

Janice Lesni…, Home Buyer in Newport, RI

How should I pay for a 900-1000 sq. Ft condo in the Kay catherine area.

Asked by Janice Lesniak, Newport, RI Fri Jun 1, 2012

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If I knew which condo, I could give you more information, but generally, the condo complex has to be approved for FHA related loans. There are alternatives for financing even if not approved and several local lenders have programs specifically for condo purchases. Let me know how to contact you and I'll give you some contacts to call.
0 votes Thank Flag Link Sat Jun 2, 2012
In Newport RI are you working with an experienced Buyers Agent? Free to you paid by the Seller if listed with a brokerage....

Do not try to figure this all out by yourself, it is not always just the price, Your Realtor will get you a market evaluation, once you decide on a specific property, i.e. compare those recently sold to the one you are interested in, talk about those competing on the market to see a trend in asking price, and
will then guide you through all the various important steps of the buying process, inspection, loan approval, negotiations of price and terms yes terms are important not just the price, and just make sure that he or she pays attention to every detail to lead to a satisfactory and happy closing.
Good Luck to you, if you need a recommendation for a local Realtor, get back to us here and we
gladly make some good recommendations.

EdithSellsHomes@gmail.com
YourRealtor4Life! Your Chicago, Northern Illinois, N and NW subs and the fine homes of the
Northshore Expert with @Properties Northshore, 30 Green Bay Road, Winnetka, Il. 60093
Edith always works in the very BEST interest of her clients, buyers, sellers and investors alike
and she truly goes the X-tra Mile with a SMILE for all her clients

Have a wonderful Day and all the BEST....
0 votes Thank Flag Link Sat Jun 2, 2012
Hi Janice, Financing a condominium can be difficult but not impossible. The square footage of that condo should not make it ineligible for financing. Typically condos under 500 square feet can be difficult. The condo complex itself will need to be approved. The association will need to be strong, have some reserves and have owners' dues up to date. There are local lenders who are seasoned at getting condo associations approved for financing. I'd be happy to offer you some local lenders who may be able to help if you'd like to contact me. I can be reached at Amy@AmyHoag.com.
0 votes Thank Flag Link Sat Jun 2, 2012
Thank You Amy for answering my question so quickly. I would really appreciate you giiving me that list of some local lenders who could help get me a loan for a condo.
Flag Sat Jun 2, 2012
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