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 7/31/2014)

  1. 3 beds, 2 full baths
    Home size: 1,159 sq ft
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  2. 1 bed, 1 full bath
    Home size: 843 sq ft
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  3. 2 beds, 2 full baths
    Home size: 1,220 sq ft
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  4. 3 beds, 1 full, 1 part baths
    Home size: 1,109 sq ft
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  5. 2 beds, 1 full bath
    Home size: 921 sq ft
    Lot size: 921 sqft
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  6. 1 bed, 1 full bath
    Home size: 724 sq ft
    Lot size: 768 sqft
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  7. 2 beds, 2 full baths
    Home size: 1,342 sq ft
    Lot size: 1,342 sqft
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  8. 2 beds, 2 full baths
    Home size: 1,078 sq ft
    Lot size: 1,078 sqft
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  9. 2 beds, 1 full bath
    Home size: 816 sq ft
    Lot size: 1,482 sqft
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  10. 2 beds, 2 full baths
    Home size: 998 sq ft
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  11. 3 beds, 2 full baths
    Home size: 1,196 sq ft
    Lot size: 1,196 sqft
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  12. 3 beds, 2 full baths
    Home size: 1,183 sq ft
    Lot size: 1,183 sqft
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  13. 2 beds, 2 full baths
    Home size: 965 sq ft
    Lot size: 14 sqft
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  14. 3 beds, 2 full baths
    Home size: 1,230 sq ft
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  15. 2 beds, 2 full baths
    Home size: 1,108 sq ft
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  16. 2 beds, 1 full, 1 part baths
    Home size: 1,064 sq ft
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  17. 1 bed, 1 full bath
    Home size: 688 sq ft
    Lot size: 688 sqft
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  18. 2 beds, 2 full baths
    Home size: 926 sq ft
    Lot size: 1,304 sqft
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  19. 2 beds, 2 full baths
    Home size: 1,121 sq ft
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  20. 2 beds, 2 full baths
    Home size: 1,282 sq ft
    Lot size: 3,192 sqft
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  21. 2 beds, 1 full bath
    Home size: 975 sq ft
    Lot size: 2,809 sqft
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  22. 2 beds, 2 full baths
    Home size: 938 sq ft
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  23. 2 beds, 2 full baths
    Home size: 1,010 sq ft
    Lot size: 1,010 sqft
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  24. 1 bed, 1 full bath
    Home size: 841 sq ft
    Lot size: 841 sqft
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  25. 1 bed, 1 full bath
    Home size: 950 sq ft
    Lot size: 950 sqft
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  26. 2 beds, 2 full baths
    Home size: 1,029 sq ft
    Lot size: 2,162 sqft
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  27. 2 beds, 2 full baths
    Home size: 1,116 sq ft
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  28. 2 beds, 2 full baths
    Home size: 980 sq ft
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  29. 2 beds, 2 full baths
    Home size: 998 sq ft
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  30. 1 bed, 1 full bath
    Home size: 607 sq ft
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  31. 2 beds, 2 full baths
    Home size: 1,058 sq ft
    Lot size: 1,058 sqft
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  32. 2 beds, 2 full baths
    Home size: 1,072 sq ft
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  33. 1 bed, 1 full bath
    Home size: 813 sq ft
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  34. 2 beds, 2 full baths
    Home size: 1,155 sq ft
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  35. 2 beds, 1 full bath
    Home size: 836 sq ft
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  36. 3 beds, 2 full baths
    Home size: 1,164 sq ft
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  37. 2 beds, 1 full, 1 part baths
    Home size: 1,053 sq ft
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  38. 2 beds, 2 full baths
    Home size: 1,005 sq ft
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  39. 2 beds, 1 full bath
    Home size: 793 sq ft
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  40. 2 beds, 1 full, 1 part baths
    Home size: 964 sq ft
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  41. 2 beds, 1 full, 1 part baths
    Home size: 1,265 sq ft
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  42. 3 beds, 2 full baths
    Home size: 1,156 sq ft
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  43. 2 beds, 1 full, 1 part baths
    Home size: 1,121 sq ft
    Lot size: 1,121 sqft
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  44. 1 bed, 1 full bath
    Home size: 778 sq ft
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  45. 2 beds, 2 full baths
    Home size: 1,136 sq ft
    Lot size: 1,136 sqft
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  46. 2 beds, 2 full baths
    Home size: 1,104 sq ft
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  47. 2 beds, 2 full baths
    Home size: 930 sq ft
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  48. 2 beds, 2 full baths
    Home size: 930 sq ft
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  49. 2 beds, 2 full baths
    Home size: 992 sq ft
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  50. 3 beds, 1 full, 2 part baths
    Home size: 1,468 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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