Things That Can Make Your Las Vegas Financed Home Purchase “Blow Up” in the Middle of a Transaction: Condo Certifications

Las Vegas Short SalesI am beginning another series about “Things That Can Make Your Las Vegas Financed Home Purchase *Blow Up* in the Middle of a Transaction.”

My ultimate goal in this series is to make Las Vegas Home Buyers aware of the challenges of a specific home’s eligibility for financing.

Congratulations!  Your lender just approved you to purchase a Las Vegas area home by looking at your check stubs, debt to income ratio and you are now approved to purchase a Las Vegas area home!

Hold the phone here, *you* may be eligible to purchase a home but is the house eligible for financing?  This series is designed for you to research a home’s eligibility for financing.

DISCLOSURE:  I am not a lender, title company, home inspector, contractor or appraiser.  I am only speaking from personal experience by working with financed Las Vegas area home buyers.  Hopefully you have hired a Las Vegas area real estate agentwho will be able to spot things that can *potentially* cause problems with your financing (mostly FHA/VA) before your contract to purchase a Las Vegas area home.

Much of Las Vegas is currently priced in fire sale status.  Many times when you see unusually inexpensive homes there is a reason – they are not eligible for financing and the seller does not wish to rehabilitate the home to make it eligible for financing.

Today’s topic at hand is the “Condo Certification“.  A Condo Certification is ordered by your lender from the Condominium HOA.

The lender is looking for certain things in the Condo Certification that will determine if they will lend money on that specific condo property:

  • Lenders want to see low investor concentration (rentals)
  • Low HOA delinquencies
  • No construction defect or other litigation against HOA or community

Las Vegas Condo financing is a huge challenge in our market and there is no telling when things will turn around to make it easier to buy a Las Vegas Condo using traditional financing methods.  Many are priced very low and there is a reason for that – because they are all cash transactions.

HUD (FHA) does have an “Approved Condo List” where you can search online.

Newest Condos for Sale in Las Vegas:

See all Condos.
(all data current as of 10/23/2014)

  1. 2 beds, 1 full, 1 part baths
    Home size: 1,029 sq ft
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  2. 3 beds, 2 full baths
    Home size: 1,191 sq ft
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  3. 1 bed, 1 full bath
    Home size: 858 sq ft
    Lot size: 2,809 sqft
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  4. 1 bed, 1 full bath
    Home size: 728 sq ft
    Lot size: 2,110 sqft
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  5. 2 beds, 2 full baths
    Home size: 1,200 sq ft
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  6. 2 beds, 2 full baths
    Home size: 934 sq ft
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  7. 2 beds, 2 full baths
    Home size: 1,074 sq ft
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  8. 1 bed, 1 full bath
    Home size: 786 sq ft
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  9. 2 beds, 1 full bath
    Home size: 806 sq ft
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  10. 2 beds, 1 full bath
    Home size: 973 sq ft
    Lot size: 1,700 sqft
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  11. 2 beds, 1 full, 1 part baths
    Home size: 1,268 sq ft
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  12. 1 bed, 1 full bath
    Home size: 624 sq ft
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  13. 2 beds, 2 full baths
    Home size: 992 sq ft
    Lot size: 2,794 sqft
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  14. 1 bed, 1 full bath
    Home size: 660 sq ft
    Lot size: 660 sqft
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  15. 2 beds, 2 full baths
    Home size: 1,165 sq ft
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  16. 2 beds, 2 full baths
    Home size: 921 sq ft
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  17. 2 beds, 1 full, 1 part baths
    Home size: 1,058 sq ft
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  18. 2 beds, 2 full baths
    Home size: 1,128 sq ft
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  19. 3 beds, 1 full, 1 part baths
    Home size: 1,201 sq ft
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  20. 2 beds, 2 full baths
    Home size: 1,591 sq ft
    Lot size: 1,038 sqft
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  21. 2 beds, 1 full, 1 part baths
    Home size: 1,188 sq ft
    Lot size: 2,070 sqft
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  22. 3 beds, 2 full baths
    Home size: 1,356 sq ft
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  23. 2 beds, 1 full, 1 part baths
    Home size: 1,083 sq ft
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  24. 1 bed, 1 part bath
    Home size: 772 sq ft
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  25. 2 beds, 2 full baths
    Home size: 1,146 sq ft
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  26. 2 beds, 2 full baths
    Home size: 935 sq ft
    Lot size: 935 sqft
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  27. 1 bed, 1 full bath
    Home size: 573 sq ft
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  28. 1 bed, 1 part bath
    Home size: 862 sq ft
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  29. 2 beds, 2 full baths
    Home size: 1,104 sq ft
    Lot size: 1,104 sqft
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  30. 2 beds, 2 full baths
    Home size: 1,010 sq ft
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  31. 2 beds, 2 full baths
    Home size: 1,094 sq ft
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  32. 2 beds, 2 full baths
    Home size: 1,094 sq ft
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  33. 2 beds, 2 full baths
    Home size: 1,348 sq ft
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  34. 2 beds, 2 full baths
    Home size: 1,248 sq ft
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  35. 2 beds, 2 full baths
    Home size: 1,089 sq ft
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  36. 2 beds, 2 full baths
    Home size: 921 sq ft
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  37. 2 beds, 2 full baths
    Home size: 1,104 sq ft
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  38. 1 bed, 1 full bath
    Home size: 636 sq ft
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  39. 2 beds, 2 full baths
    Home size: 976 sq ft
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  40. 2 beds, 1 full, 1 part baths
    Home size: 1,063 sq ft
    Lot size: 2,304 sqft
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  41. 2 beds, 2 full baths
    Home size: 1,156 sq ft
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  42. 2 beds, 1 full, 1 part baths
    Home size: 1,029 sq ft
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  43. 2 beds, 1 full bath
    Home size: 1,032 sq ft
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  44. 2 beds, 2 full baths
    Home size: 1,063 sq ft
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  45. 2 beds, 1 full bath
    Home size: 750 sq ft
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  46. 1 bed, 1 full bath
    Home size: 786 sq ft
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  47. 1 bed, 1 full bath
    Home size: 786 sq ft
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  48. 3 beds, 2 full baths
    Home size: 1,104 sq ft
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  49. 2 beds, 2 full baths
    Home size: 976 sq ft
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  50. 2 beds, 2 full baths
    Home size: 1,081 sq ft
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Listing information deemed reliable but not guaranteed. Read full disclaimer.

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Real Estate Agent in the Las Vegas - Henderson Area. Affiliated with: NAR, NVAR, GLVAR (Local Realtor Associations), REBAC (Real Estate Buyer's Agency Council), NABPOP (National Association of Broker Price Opinion Professionals) Seven Designations/Certifications: REALTOR®, ABR (Accredited Buyer's Representative), AHWD (at Home With Diversity), RSPS (Resort & Second Property Specialist), SFR (Short Sale/Foreclosure Resource), SRES (Senior Real Estate Specialist), SRS (Seller Representative Specialist).
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