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Foreclosure in Sun Prairie : Real Estate Advice

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  • Home Buying14
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Pat Thering,  in Sun Prairie, WI
Wed Nov 14, 2012
Pat Thering answered:
Quite honestly I am not sure why this condo would fall through unless every person trying to get financing is using a FHA type loan. FHA loans require an FHA appraisal which is almost like an inspection sometimes. If there is a problem with an exterior feature, like the roof, there will have to be estimates and a plan for this to be rectified before closing. Now if the association has no plan for the fix or the money, the sale will probably have problems. Not saying this is the problem, but I ran into this at a condo down the street on Kelvington, however the association had a plan and made the fix. So all that being said, there is probably something going on with that building that is halting financing and the seller/bank is not willing to fix for the 104k price tag. If you need any help with your housing search contact me at 608-235-1515.

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