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Web Based Investment Group Helps Condo Buyers Find Financing For Florida Condos:
By Michael R. Linton
Web Based Investment Group Helps Condo Buyers Find Financing For Florida Condos:
The web based investment network, FloridaCondoInvestor.com, has access to special financing for qualified condo investors. Since Condos are considered real property, condos qualify for homestead exemptions (owner occupied) in Florida. Condo developments are governed by covenants, conditions and restrictions. These dictate the owners' rights and the restrictions on those rights.
You become a member of the homeowners' association and pay dues. The dues cover management of the homeowners' association, hazard insurance for the complex and a certain amount of routine maintenance. Precisely what is covered varies.
The cost of the condo association dues will be included as part of your monthly housing payment when calculating how much house you can afford to buy.
The purchase agreement should include a contingency that the seller provide the buyer with condo documents, the articles of incorporation and the bylaws of the homeowners' association. This should include notification of any ongoing litigation and any special assessments.
You should receive a copy of the condo budget, which should be a sound, balanced budget with reserves to cover the cost of major repairs like roofing or elevators. You will also be told what the monthly maintenance fee is. You can also ask for the minutes of condo meetings for the past year. This will tell you if any major renovations or changes are being discussed, and give you some idea into the way the property is run.
Maranatha Mortgage Corporation (www.MaranathaMortgage.com) will consider most Condo projects with up to 70% - 100% concentration of "investor" units depending upon the project. Not all condo projects require a condo questionnaire to be completed.
There is no cost to join the FloridaCondoInvestor.com network; Just the opportunity to work with some of the best in the business. Investors will have access to a million dollar database of Attorney's, CPA's, Mortgage and Real Estate specialists on every deal.
Anyone who is interested in real estate investing and would like to join this network at no cost can sign up at www.FloridaCondoInvestor.com.
FloridaCondoInvestor.com is a web based investment group. Their philosophy is to locate excellent buying opportunities throughout the state of Florida and help their members create positive cash flow.
To contact Mike Linton for more information:
DiMucci Realty Company
Mike Linton / Realtor
3424 S. Atlantic Ave.
Daytona Beach Shores, FL 32118
(386)299-9275
www.FloridaCondoInvestor.com
About the Author
Mike and Peggy Linton / Realtors
DiMucci Realty
3424 S. Atlantic Ave.
Daytona Beach Shores, FL 32118
www.FloridaCondoInvestor.com
Article Source: http://www.simplysearch4it.com/article/45314.html
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