I want to sell my condo that I bought last year at a complex that's converting from rentals to condo. The purchase transaction was a nightmare

Asked by Seller, Amherst, NY Sat Nov 30, 2013

and I may loose money , my question is how hard is to sell a one bedroom in 14222 and is FHA available for a homeowner buying for a second time. I want to return to the Williamsville area where I used to live. Thank you/

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James O'Donn…, Agent, Amherst, NY
Sun Dec 1, 2013
please feel free to call me so we can discuss situation

jim odonnell 716-568-7417
0 votes
, ,
Sun Dec 1, 2013
Yes, FHA is available to a homebuyer multiple times although, generally speaking, you can only have a single FHA mortgage out at any one time but there are exceptions, for example, job relocation, changes in family size, etc. In your case, we would not be able to convince an underwriter to make an exception unless there are other circumstances you haven''t identified.

In this case, your very first step should be getting pre-approved for a mortgage to make sure you can purchase another FHA condo in Williamsville and before you even consider listing your present condo for sale.

I also have a network of realtors available that could help you list and purchase your next home. One of my realtor partners grew up in and continues to work in the area you've identified, i.e. Williamsville/Clarence. She knows the market and would be able to properly set expectations.

Please call my office tomorrow morning for mortgage pre-approval and to answer any other questions you may have.

Ron Fronckowiak
Sr Mortgage Advisor/President
R & R Funding, Inc.
Lancaster NY
716-685-9696
Web Reference:  http://www.WNYMortgages.com
0 votes
Patti Draper, Agent, Amherst, NY
Sat Nov 30, 2013
You may only own one FHA mortgage at a time. You would have to sell first, or more likely at least close on your first home ( sale) before closing on the second ( as a buyer ).
The area 14222 is a relatively popular right now. It should it be too hard to sell. What will be difficult is the one bedroom part. Most people want at least two. I would be happy to do a market analysis for you - please call me.
Patti v Draper, Associate Broker
M J Peterson Real Estate
716-258-0270
0 votes
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