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Archive for the ‘Las Vegas condos and FHA approved.’ Category

LAS VEGAS CONDO for sale, What to look for in case of litigation

Sunday, June 5th, 2016

Hi Everyone,

I hope this blog finds you very well and happy.

Basics when looking at condos………

1.      FHA: Entire Project Must be FHA Approved.
2.      OWNERSHIP: Does any one person or entity own more than 10% of the units?
3.      LITIGATION: Is there current unsettled litigation? If yes, request copy of litigation documents .
4.      SETTLED LITIGATION: request copy of documentation to reflect settlement and confirm repairs completed. 
5.      OCCUPANCY: Are 51% or more units owner occupied or second homes?
6.      HOA: Are there more than 15% owners delinquent on HOA fees?
7.      AMENTITIES: does the condo project share with hotel? (condo-tels have not been lendable for several years.)

Penny O'Brien
Las Vegas | Henderson | Summerlin Realtor/Real Estate Agent

Cell:  702.321.9383

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