I recently helped a buyer close a transaction where the condo assn. was in a lawsuit with the developer. There are some banks in town who will loan depending on the specifics of the lawsuit and what they determine the possible exposure of the HOA. If you want to call me with specific location and circumstances, I'd be happy to try and help your situation if possible.
Keller Williams Santa Fe
The bottom line is to be qualified to purchase a short sale property and expect to be patient as the short sale buying process is not short by any means. If you want to bid on a foreclosure properties online at the many auction sites listing them for auction, it is best to review the site and make certain you have the cash funds available. Frankly, I would take advantage of the mortgage financing available at the lowest interest rates in years and work with a Realtor who will find you the best value. Good luck in you efforts.... more
Well my answer is coming in a year later. Why? Everything in real estate has changed and continues to do so. For example, Rancho Viejo is building new custom homes. Yesterday, we helped another buyer find a lot for their to be built home. A few months ago, our 2nd home buyer moved into their new Rancho Viejo home. Our clients who select Rancho Viejo are lst time home buyers who are able to purchase with FHA financing and 3.5% down. Our second home buyers want warranties on their new home and conventional financing is available for new construction Rancho Viejo. The bottom line about Santa Fe real estate is to stay current by working with Realtors who are experienced and full time. If you want more information about how we work with lst time home buyers or 2nd home buyers looking for value in affordable new construction, do not hesitate to contact me at 505-660-4541.... more
Mark, the information on the last email sent did not format as I had intended. If you would like to contact me at Liz.Sheffield@sothebyshomes.com (it is hard to see but there is a dot between the Liz and Sheffield) I can send the info in a pdf file.... more