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, 2 full baths
    Home size: 1,008 sq ft
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  2. 2 beds, 2 full baths
    Home size: 862 sq ft
    Lot size: 862 sqft
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  3. 2 beds, 2 full baths
    Home size: 892 sq ft
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  4. 2 beds, 2 full baths
    Home size: 1,139 sq ft
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  5. 2 beds, 2 full baths
    Home size: 1,188 sq ft
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  6. 2 beds, 2 full baths
    Home size: 975 sq ft
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  7. 2 beds, 1 full bath
    Home size: 816 sq ft
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  8. 3 beds, 2 full baths
    Home size: 1,131 sq ft
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  9. 1 bed, 1 full bath
    Home size: 844 sq ft
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  10. 2 beds, 2 full baths
    Home size: 962 sq ft
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  11. 2 beds, 2 full baths
    Home size: 981 sq ft
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  12. 2 beds, 2 full baths
    Home size: 938 sq ft
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  13. 1 bed, 1 full bath
    Home size: 777 sq ft
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  14. 2 beds, 2 full baths
    Home size: 1,023 sq ft
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  15. 2 beds, 2 full baths
    Home size: 1,156 sq ft
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  16. 3 beds, 2 full baths
    Home size: 1,224 sq ft
    Lot size: 1,224 sqft
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  17. 1 bed, 1 full bath
    Home size: 724 sq ft
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  18. 2 beds, 2 full baths
    Home size: 862 sq ft
    Lot size: 875 sqft
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  19. 3 beds, 2 full baths
    Home size: 1,190 sq ft
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  20. 2 beds, 2 full baths
    Home size: 934 sq ft
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  21. 2 beds, 2 full baths
    Home size: 1,053 sq ft
    Lot size: 1,053 sqft
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  22. 2 beds, 2 full baths
    Home size: 1,392 sq ft
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  23. 3 beds, 2 full baths
    Home size: 1,164 sq ft
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  24. 1 bed, 1 full bath
    Home size: 593 sq ft
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  25. 2 beds, 2 full baths
    Home size: 1,005 sq ft
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  26. 2 beds, 2 full baths
    Home size: 1,172 sq ft
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  27. 2 beds, 1 full, 1 part baths
    Home size: 978 sq ft
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  28. 2 beds, 2 full baths
    Home size: 884 sq ft
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  29. 1 bed, 1 full bath
    Home size: 702 sq ft
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  30. 2 beds, 2 full baths
    Home size: 998 sq ft
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  31. 2 beds, 1 full, 1 part baths
    Home size: 1,080 sq ft
    Lot size: 1,080 sqft
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  32. 3 beds, 2 full baths
    Home size: 1,117 sq ft
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  33. 2 beds, 2 full baths
    Home size: 1,064 sq ft
    Lot size: 2,653 sqft
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  34. 2 beds, 2 full baths
    Home size: 1,054 sq ft
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  35. 1 bed, 1 full bath
    Home size: 568 sq ft
    Lot size: 2,704 sqft
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  36. 1 bed, 1 full bath
    Home size: 660 sq ft
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  37. 1 bed, 1 full bath
    Home size: 862 sq ft
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  38. 2 beds, 2 full baths
    Home size: 974 sq ft
    Lot size: 1,056 sqft
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  39. 2 beds, 1 full, 1 part baths
    Home size: 1,503 sq ft
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  40. 2 beds, 1 full, 2 part baths
    Home size: 2,497 sq ft
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  41. 2 beds, 2 full baths
    Home size: 912 sq ft
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  42. 2 beds, 1 full, 1 part baths
    Home size: 1,220 sq ft
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  43. 2 beds, 2 full baths
    Home size: 1,006 sq ft
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  44. 2 beds, 2 full baths
    Home size: 1,072 sq ft
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  45. 2 beds, 2 full, 1 part baths
    Home size: 1,113 sq ft
    Lot size: 3,378 sqft
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  46. 2 beds, 2 part baths
    Home size: 1,192 sq ft
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  47. 2 beds, 2 full baths
    Home size: 1,072 sq ft
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  48. 2 beds, 1 full, 1 part baths
    Home size: 1,249 sq ft
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  49. 3 beds, 2 full baths
    Home size: 1,181 sq ft
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  50. 1 bed, 1 full bath
    Home size: 755 sq ft
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See all Condos.
(all data current as of 5/24/2015)

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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