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:

  1. 2 beds, 1 full, 2 part baths
    Home size: 1,467 sq ft
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  2. 1 bed, 1 full bath
    Home size: 720 sq ft
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  3. 1 bed, 1 full bath
    Home size: 841 sq ft
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  4. 2 beds, 2 full baths
    Home size: 1,248 sq ft
    Lot size: 1,248 sqft
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  5. 2 beds, 1 full bath
    Home size: 794 sq ft
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  6. 3 beds, 2 full, 1 part baths
    Home size: 1,539 sq ft
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  7. 1 bed, 1 full bath
    Home size: 660 sq ft
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  8. 2 beds, 1 full, 1 part baths
    Home size: 1,035 sq ft
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  9. 2 beds, 2 full baths
    Home size: 1,197 sq ft
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  10. 2 beds, 2 full baths
    Home size: 998 sq ft
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  11. 2 beds, 2 full baths
    Home size: 968 sq ft
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  12. 1 bed, 1 full bath
    Home size: 692 sq ft
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  13. 2 beds, 1 full, 1 part baths
    Home size: 1,053 sq ft
    Lot size: 2,500 sqft
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  14. 2 beds, 2 full baths
    Home size: 1,472 sq ft
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  15. 3 beds, 2 full, 1 part baths
    Home size: 1,367 sq ft
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  16. 1 bed, 1 full bath
    Home size: 690 sq ft
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  17. 2 beds, 1 full, 1 part baths
    Home size: 1,008 sq ft
    Lot size: 3,249 sqft
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  18. 2 beds, 1 full, 2 part baths
    Home size: 1,467 sq ft
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  19. 2 beds, 1 full bath
    Home size: 816 sq ft
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  20. 3 beds, 2 full baths
    Home size: 1,200 sq ft
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  21. 2 beds, 1 full, 1 part baths
    Home size: 1,080 sq ft
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  22. 2 beds, 2 full baths
    Home size: 1,162 sq ft
    Lot size: 2,116 sqft
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  23. 2 beds, 1 full, 1 part baths
    Home size: 1,056 sq ft
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  24. 2 beds, 2 full baths
    Home size: 1,004 sq ft
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  25. 2 beds, 2 full baths
    Home size: 1,006 sq ft
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  26. 2 beds, 2 full baths
    Home size: 1,108 sq ft
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  27. 2 beds, 1 full bath
    Home size: 1,109 sq ft
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  28. 2 beds, 2 full baths
    Home size: 1,020 sq ft
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  29. 2 beds, 2 full baths
    Home size: 974 sq ft
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  30. 2 beds, 2 full baths
    Home size: 1,023 sq ft
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  31. 2 beds, 2 full baths
    Home size: 1,108 sq ft
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  32. 2 beds, 2 full baths
    Home size: 1,120 sq ft
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  33. 1 bed, 1 full bath
    Home size: 671 sq ft
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  34. 2 beds, 2 full baths
    Home size: 960 sq ft
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  35. 2 beds, 2 full baths
    Home size: 1,034 sq ft
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  36. 2 beds, 2 full baths
    Home size: 996 sq ft
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  37. 2 beds, 2 full baths
    Home size: 974 sq ft
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  38. 2 beds, 2 full, 1 part baths
    Home size: 2,497 sq ft
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  39. 1 bed, 1 full bath
    Home size: 607 sq ft
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  40. 1 bed, 1 full bath
    Home size: 821 sq ft
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  41. 2 beds, 2 full baths
    Home size: 1,053 sq ft
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  42. 2 beds, 2 full baths
    Home size: 1,197 sq ft
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  43. 3 beds, 2 full, 1 part baths
    Home size: 1,253 sq ft
    Lot size: 1,641 sqft
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  44. 2 beds, 2 full baths
    Home size: 1,081 sq ft
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  45. 3 beds, 2 full baths
    Home size: 1,167 sq ft
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  46. 3 beds, 2 full baths
    Home size: 1,164 sq ft
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  47. 1 bed, 1 full bath
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  48. 1 bed, 1 full bath
    Home size: 700 sq ft
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  49. 2 beds, 2 full baths
    Home size: 1,108 sq ft
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  50. 3 beds, 2 full baths
    Home size: 1,200 sq ft
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See all Condos.
(all data current as of 8/28/2015)

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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