You must know how much you can spend before you spend it. Condominiums generally require 5% down. However, because of our relationship with Countrywide we provide a number of special financing options ranging from financing the entire loan amount (incl. closing cost) to below market interest rate buy-downs.
Depending on how specialized your immediate needs are in a home the length of your search will vary. The average person sees between 5 and 15 homes before deciding on one. Internet savvy buyers save time by doing their homework before their search. The average number of homes viewed before buying by typical Internet buyers is 3 to 7.
Everything is negotiable so inquire about assessments, fixtures, window replacements, air conditioners, floors, appliances, working fireplaces, washer dryers, etc. Apartments are delivered swept clean.
Generally, in a sales transaction, a licensed real estate professional facilitates your contract signing. The buyer signs the contract with the appropriate deposit and forwards it to the seller; the sellers execute the contract. Possible contingencies include: financing, closing dates, the sale of a home, inspections, etc. A contract is binding only after both parties sign it and all contingencies or conditions have been satisfied.
Mortgage applications cannot be fully processed without an executed contract. When purchasing condominiums it is always most advantageous to the buyer to use the project's approved lender.
