Property Q&A in Bellevue>Question Details

m99xu, Home Buyer in Bellevue, WA

Can this unit be rented?

Asked by m99xu, Bellevue, WA Thu Jan 19, 2012

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This question is about this property: http://www.trulia.com/property/3054951645-1744-157th-Ave-NE-…

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4
Thank you for your interesting question. Most bank owned properties are not for sale. If you are thinking of buying this home for a rental investment, we will need to get all the details of the Home Owners Association to see if they have any rental caps and/or if that limit has been reached.
If you are looking for a rental home for yourself, I would be happy to show you what is available in the area.
(I live and work in Bellevue)
Contact me if I can be of help to you.
yours, Lindy Hisatomi, Coldwell Banker Bain, Bellevue
(206) 550-0712 or
lindyhisatomi@cbbain.com
0 votes Thank Flag Link Mon Jan 23, 2012
I'm assuming what you're asking is, if you purchase the home can you rent it out at an investment. The entities selling a distressed property (FNMA, bank, whoever) encourages home ownership when they can through incentives (less money down, no restrictions on resale, etc.) but do not make the decision as to whether you can rent a unit or not. That is only restricted by the Home Owners Association or management or ownership of the building. I would find out who manages the property and see what their restriction are.
0 votes Thank Flag Link Fri Jan 20, 2012
I know this property, and it can be purchased for a good price. But I agree with the prior answer that banks do not normally rent out the distressed properties they have for sale.

I have a house for rent for a client just a bit south of this condo, and there are other properties available to rent in the area also. Please let me know if I might be of help.
0 votes Thank Flag Link Thu Jan 19, 2012
It appears that this is a bank owned and is For Sale. Normally, I don't see where a property is Bank Owned and they want to rent it out. The banks don't want to be landlords.

I know there are other propeties for rent in Bellevue, just not this one.
0 votes Thank Flag Link Thu Jan 19, 2012
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