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 4/19/2014)

  1. 1 bed, 1 full bath
    Home size: 783 sq ft
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  2. 2 beds, 2 full baths
    Home size: 1,094 sq ft
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  3. 3 beds, 1 full, 1 part baths
    Home size: 2,367 sq ft
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  4. 2 beds, 2 full baths
    Home size: 1,038 sq ft
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  5. 2 beds, 2 full baths
    Home size: 1,029 sq ft
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  6. 1 bed, 1 full bath
    Home size: 705 sq ft
    Lot size: 1 sqft
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  7. 2 beds, 2 full baths
    Home size: 1,121 sq ft
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  8. 2 beds, 2 full baths
    Home size: 1,042 sq ft
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  9. 2 beds, 1 full, 1 part baths
    Home size: 884 sq ft
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  10. 2 beds, 2 full baths
    Home size: 1,155 sq ft
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  11. 2 beds, 2 full baths
    Home size: 892 sq ft
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  12. 2 beds, 2 full baths
    Home size: 1,220 sq ft
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  13. 1 bed, 1 full bath
    Home size: 820 sq ft
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  14. 2 beds, 2 full baths
    Home size: 1,378 sq ft
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  15. 3 beds, 2 full baths
    Home size: 1,084 sq ft
    Lot size: 198 sqft
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  16. 2 beds, 2 full baths
    Home size: 1,220 sq ft
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  17. 2 beds, 2 full baths
    Home size: 1,186 sq ft
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  18. 3 beds, 2 full baths
    Home size: 1,308 sq ft
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  19. 3 beds, 2 full, 1 part baths
    Home size: 1,539 sq ft
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  20. 2 beds, 1 full bath
    Home size: 921 sq ft
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  21. 3 beds, 2 full baths
    Home size: 1,255 sq ft
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  22. 3 beds, 1 full, 1 part baths
    Home size: 1,237 sq ft
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  23. 2 beds, 2 full baths
    Home size: 1,279 sq ft
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  24. 2 beds, 1 full, 1 part baths
    Home size: 896 sq ft
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  25. 2 beds, 2 full baths
    Home size: 1,265 sq ft
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  26. 1 bed, 1 full bath
    Home size: 660 sq ft
    Lot size: 660 sqft
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  27. 2 beds, 2 full baths
    Home size: 912 sq ft
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  28. 1 bed, 1 full bath
    Home size: 825 sq ft
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  29. 2 beds, 2 full baths
    Home size: 912 sq ft
    Lot size: 1,325 sqft
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  30. 2 beds, 2 full baths
    Home size: 1,138 sq ft
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  31. 1 bed, 1 full bath
    Home size: 704 sq ft
    Lot size: 98 sqft
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  32. 2 beds, 2 part baths
    Home size: 974 sq ft
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  33. 3 beds, 2 full, 3 part baths
    Home size: 1,856 sq ft
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  34. 2 beds, 1 full, 1 part baths
    Home size: 1,054 sq ft
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  35. 2 beds, 2 full baths
    Home size: 900 sq ft
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  36. 2 beds, 2 full baths
    Home size: 1,128 sq ft
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  37. 2 beds, 2 full baths
    Home size: 1,197 sq ft
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  38. 2 beds, 2 full baths
    Home size: 876 sq ft
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  39. 2 beds, 2 full baths
    Home size: 876 sq ft
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  40. 2 beds, 2 full baths
    Home size: 945 sq ft
    Lot size: 1,804 sqft
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  41. 2 beds, 1 full, 1 part baths
    Home size: 876 sq ft
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  42. 2 beds, 2 full baths
    Home size: 876 sq ft
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  43. 1 bed, 1 full bath
    Home size: 705 sq ft
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  44. 2 beds, 1 full, 1 part baths
    Home size: 1,104 sq ft
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  45. 0 beds, 1 full bath
    Home size: 476 sq ft
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  46. 2 beds, 2 full baths
    Home size: 884 sq ft
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  47. 2 beds, 2 full baths
    Home size: 934 sq ft
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  48. 3 beds, 1 full, 1 part baths
    Home size: 1,125 sq ft
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  49. 2 beds, 2 full baths
    Home size: 985 sq ft
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  50. 2 beds, 2 full baths
    Home size: 1,128 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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