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 4/26/2015)

  1. 2 beds, 1 full bath
    Home size: 816 sq ft
    Lot size: 1,482 sqft
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  2. 2 beds, 2 part baths
    Home size: 1,086 sq ft
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  3. 2 beds, 2 full baths
    Home size: 1,004 sq ft
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  4. 2 beds, 2 full baths
    Home size: 1,193 sq ft
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  5. 2 beds, 2 full baths
    Home size: 1,425 sq ft
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  6. 2 beds, 1 full, 1 part baths
    Home size: 945 sq ft
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  7. 3 beds, 2 full baths
    Home size: 1,084 sq ft
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  8. 2 beds, 1 full, 1 part baths
    Home size: 938 sq ft
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  9. 2 beds, 2 full baths
    Home size: 985 sq ft
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  10. 2 beds, 2 full baths
    Home size: 1,005 sq ft
    Lot size: 4,015 sqft
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  11. 3 beds, 1 full, 1 part baths
    Home size: 1,056 sq ft
    Lot size: 1,058 sqft
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  12. 2 beds, 2 full baths
    Home size: 893 sq ft
    Lot size: 893 sqft
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  13. 2 beds, 1 full, 1 part baths
    Home size: 908 sq ft
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  14. 2 beds, 2 full baths
    Home size: 1,120 sq ft
    Lot size: 1,120 sqft
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  15. 3 beds, 2 full baths
    Home size: 1,183 sq ft
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  16. 2 beds, 2 full baths
    Home size: 1,172 sq ft
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  17. 0 beds, 1 full, 1 part baths
    Home size: 737 sq ft
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  18. 2 beds, 1 full, 2 part baths
    Home size: 2,258 sq ft
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  19. 2 beds, 1 full, 1 part baths
    Home size: 1,000 sq ft
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  20. 2 beds, 1 full bath
    Home size: 877 sq ft
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  21. 2 beds, 2 full baths
    Home size: 1,248 sq ft
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  22. 3 beds, 1 full, 1 part baths
    Home size: 1,268 sq ft
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  23. 2 beds, 2 full baths
    Home size: 1,046 sq ft
    Lot size: 1,046 sqft
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  24. 3 beds, 2 full baths
    Home size: 1,170 sq ft
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  25. 3 beds, 2 full baths
    Home size: 1,239 sq ft
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  26. 1 bed, 1 full bath
    Home size: 711 sq ft
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  27. 2 beds, 2 full baths
    Home size: 981 sq ft
    Lot size: 1,936 sqft
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  28. 2 beds, 1 full bath
    Home size: 908 sq ft
    Lot size: 3,632 sqft
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  29. 2 beds, 2 full baths
    Home size: 1,025 sq ft
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  30. 3 beds, 2 full baths
    Home size: 1,175 sq ft
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  31. 2 beds, 2 full baths
    Home size: 1,049 sq ft
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  32. 3 beds, 2 full baths
    Home size: 1,344 sq ft
    Lot size: 3,280 sqft
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  33. 2 beds, 1 full bath
    Home size: 816 sq ft
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  34. 2 beds, 1 full bath
    Home size: 1,032 sq ft
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  35. 2 beds, 2 full baths
    Home size: 968 sq ft
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  36. 2 beds, 2 full baths
    Home size: 1,301 sq ft
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  37. 2 beds, 1 full bath
    Home size: 640 sq ft
    Lot size: 1,000 sqft
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  38. 1 bed, 1 full bath
    Home size: 724 sq ft
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  39. 2 beds, 2 full baths
    Home size: 960 sq ft
    Lot size: 960 sqft
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  40. 3 beds, 1 full, 1 part baths
    Home size: 1,237 sq ft
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  41. 2 beds, 2 full baths
    Home size: 1,168 sq ft
    Lot size: 2,500 sqft
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  42. 2 beds, 2 full baths
    Home size: 2,181 sq ft
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  43. 2 beds, 2 full baths
    Home size: 981 sq ft
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  44. 2 beds, 2 full baths
    Home size: 926 sq ft
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  45. 3 beds, 2 full baths
    Home size: 1,109 sq ft
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  46. 2 beds, 2 full baths
    Home size: 962 sq ft
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  47. 3 beds, 2 full baths
    Home size: 1,109 sq ft
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  48. 2 beds, 2 full baths
    Home size: 1,054 sq ft
    Lot size: 1,054 sqft
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  49. 2 beds, 2 part baths
    Home size: 1,000 sq ft
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  50. 3 beds, 2 full, 1 part baths
    Home size: 1,367 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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