Lookin’ for Love…

… I mean “Condos”. In all the wrong places.

So, I did the mortgage preapproval thing through my bank. The good news is that I am approved for more than enough to cover what I am looking for.

The bad news is that it has to be an FHA loan, and not a conventional mortgage.

Damn my lousy credit score!

Anyway, this just means I appear a bit more like a deadbeat. And can only look for condos in Buildings that have FHA approval.

Unfortunately the one condo I have liked best so far is in a NON FHA approved building.

Devil!

Another other wrinkle in the search is that the bank is a bit hinky about loaning money for condo purchases. Evidently the lions share of foreclosures involve condos.

So the bank also has to research the condo building/group for viability and sustainability. And then approve it before any loans can be made.

Joy!

Add to this the fact that one of the realtors I’ve contacted really didn’t listen to what I am looking for and sent me listings for a lot of… well… shitholes.

I ended up doing all the condo research for her and giving her a list of what I liked.

This is really almost more work than it’s worth.

About cb

Nickname: Munt Measurements: 45 B, 34, 38(?) Ambition: to be the best human ever! Turn ons: long walks on the beach, romantic dinners, porn, rainbows, cock Turn offs: bad smell face, men who are full of themselves, dead puppies, popcorn, sadness
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12 Responses to Lookin’ for Love…

  1. Ray Ray says:

    If you don’t hit it off with your realtor you should definitely shop around. Find one who’s hungry and listens to you, there are more realtors out there than the world knows what to do with so don’t settle for some tool who doesn’t listen to you! Good luck on the search!

  2. Joe says:

    The police in DC have a long-standing joke…they pull over a driver and ask to see their license…the driver shows them their pocket realtor license. (i think the joke part is that the police would actually pull someone over but hey…)

    Realtors are a dime a dozen. Being one, I know this. Don’t make this huge purchase without one you don’t like or respect.

  3. A Lewis says:

    We have always done far more research and finding of properties than our realtor has done. As for the FHA, let it go….it’s no problem. Perhaps more paperwork and such…but definitely doable. Very very happy for you!

  4. AjohnP says:

    When we were house hunting we would go online and find houses that were were interested in. Then we would do a ‘drive by’ to make sure they looked as good in person as they did in the photos (most of them didn’t). If they passed that test, we would send the info to our realtor and ask him to set up an appointment for us to see the inside.
    It made his job a lot easier, and we got to see only the houses we had a real interest in – including the one we bought!
    Take your time and DO NOT settle for anything less than someplace you love.

  5. penny says:

    LISTEN VERY CLOSELY…DROP YOUR REALTOR AND WALK NO RUN AWAY, NOW! If that is what you are getting and this turd is going to make AT LEAST 2.5% off of you, get one that you really, really like. Just sayin’…I’m not a realtor but I see these lazy sluf offs everyday.

  6. penny says:

    Joe, no offense! I’m sure that you are very good! I just work with some really, really lazy ones.

  7. Blobby says:

    Our first house was via FHA and it wasn’t a horrible process. Upfront they make you feel a little dead-beat but it worked out beautifully.

    Agreed w/the comments about realtors. There are good and bad – find one right for you. We went w/queer ones and it worked out for us.

    One other we dumped was insistent on dual representation. Fuck that. Didn’t trust her for a second. When our queer one tried it w/someone wanting to buy our house, I told him he had to dump them or us (and we were buying a much more pricey house from him than he was selling for us).

    He suggested to them not to move foward w/our house. I could have been pissed but didn’t really care. He kept us and them – just didn’t sell them our house.

  8. BustersDad says:

    Basically, ditto to the ditch the bad realtor! Get references from friends, etc who have recently purchased. Since the market is slow a realtor should be hustling to get you into something you like as quickly and efficiently as possible. If you would like a reference for a DC realtor drop me a line!

  9. John says:

    Wow, I got an FHA loan for my first home, and I didn’t feel dead-beat at all. And I was looking at condos, the only restriction was on % of owner-occupied units. Which, frankly, isn’t a bad thing to look at, unless you want to be in a building full of investment properties that people stop paying mortgage and condo fees on when the economy is bad, and then every other unit is going into foreclosure, and the water will be turned off unless you personally pay the bill for the whole building… well, you get the picture. Not a pretty one.

    I wound up getting a single family home instead, and there were some additional inspection requirements, but that was it.

    I’ve never owned a condo and at this point in my life and having heard plenty of tales from friends who do, I never particularly want to.

  10. Ben says:

    FHA? Building viability?

    Here in Oz, you get preapproved, if your credit ain’t good, you get a shit interest rate, then you buy your house and shag in every room to mark your territory.

  11. RG says:

    I’m qualified for a VA home loan, which has it’s own restrictions, like the all the mechanical systems and the roof cannot be more than 10 years old. As far as condos, the building has to be 75% owner occupied the association has to have a certain amount of money in it’s fund. What’s on the market for me? Shitboxes.

  12. Mark in DE says:

    Discontinue with the realtor who doesn’t listen, and try another one. THEY should be doing the work for YOU, and sending you stuff that matches what you ask for.

    You should also shop around for mortgages. Your bank may not be the best ‘fit’ for your mortgage needs.

    Good luck!

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