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 4/24/2014)

  1. 2 beds, 2 full baths
    Home size: 864 sq ft
    Lot size: 864 sqft
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  2. 2 beds, 2 full baths
    Home size: 1,020 sq ft
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  3. 3 beds, 2 full baths
    Home size: 1,155 sq ft
    Lot size: 5 sqft
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  4. 1 bed, 1 full, 1 part baths
    Home size: 1,175 sq ft
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  5. 3 beds, 2 full baths
    Home size: 1,190 sq ft
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  6. 2 beds, 2 full baths
    Home size: 1,173 sq ft
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  7. 1 bed, 1 full, 1 part baths
    Home size: 1,196 sq ft
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  8. 2 beds, 2 full baths
    Home size: 1,265 sq ft
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  9. 2 beds, 2 full, 1 part baths
    Home size: 1,507 sq ft
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  10. 2 beds, 2 full baths
    Home size: 1,105 sq ft
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  11. 2 beds, 2 full baths
    Home size: 1,079 sq ft
    Lot size: 2,556 sqft
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  12. 2 beds, 2 full baths
    Home size: 942 sq ft
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  13. 3 beds, 3 full baths
    Home size: 1,707 sq ft
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  14. 1 bed, 1 full bath
    Home size: 897 sq ft
    Lot size: 897 sqft
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  15. 2 beds, 2 full baths
    Home size: 1,029 sq ft
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  16. 2 beds, 2 full baths
    Home size: 1,300 sq ft
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  17. 1 bed, 1 full bath
    Home size: 704 sq ft
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  18. 2 beds, 2 full baths
    Home size: 896 sq ft
    Lot size: 2,075 sqft
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  19. 2 beds, 2 full baths
    Home size: 1,028 sq ft
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  20. 3 beds, 2 full baths
    Home size: 1,109 sq ft
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  21. 2 beds, 2 full baths
    Home size: 1,184 sq ft
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  22. 3 beds, 2 full baths
    Home size: 1,257 sq ft
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  23. 1 bed, 1 full bath
    Home size: 660 sq ft
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  24. 2 beds, 2 full baths
    Home size: 908 sq ft
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  25. 2 beds, 2 full baths
    Home size: 1,094 sq ft
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  26. 2 beds, 2 full baths
    Home size: 1,053 sq ft
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  27. 1 bed, 1 full bath
    Home size: 711 sq ft
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  28. 2 beds, 2 full baths
    Home size: 1,151 sq ft
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  29. 2 beds, 2 full baths
    Home size: 1,253 sq ft
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  30. 2 beds, 2 full baths
    Home size: 1,050 sq ft
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  31. 2 beds, 2 full baths
    Home size: 908 sq ft
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  32. 2 beds, 2 full baths
    Home size: 927 sq ft
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  33. 2 beds, 2 full baths
    Home size: 972 sq ft
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  34. 2 beds, 2 full, 1 part baths
    Home size: 1,349 sq ft
    Lot size: 2,256 sqft
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  35. 1 bed, 1 full bath
    Home size: 720 sq ft
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  36. 1 bed, 1 full bath
    Home size: 820 sq ft
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  37. 2 beds, 2 full baths
    Home size: 1,211 sq ft
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  38. 1 bed, 1 full bath
    Home size: 700 sq ft
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  39. 2 beds, 2 full baths
    Home size: 912 sq ft
    Lot size: 912 sqft
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  40. 3 beds, 2 full baths
    Home size: 1,061 sq ft
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  41. 2 beds, 2 full baths
    Home size: 912 sq ft
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  42. 1 bed, 1 full bath
    Home size: 814 sq ft
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  43. 2 beds, 2 full baths
    Home size: 1,232 sq ft
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  44. 2 beds, 2 full baths
    Home size: 864 sq ft
    Lot size: 1,750 sqft
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  45. 2 beds, 1 full, 1 part baths
    Home size: 1,012 sq ft
    Lot size: 2,862 sqft
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  46. 3 beds, 2 full baths
    Home size: 1,703 sq ft
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  47. 2 beds, 1 full, 1 part baths
    Home size: 884 sq ft
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  48. 3 beds, 2 full baths
    Home size: 1,273 sq ft
    Lot size: 1,645 sqft
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  49. 2 beds, 2 full baths
    Home size: 1,301 sq ft
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  50. 3 beds, 2 full baths
    Home size: 1,344 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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