Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > Real Estate Appraisal Forums > General Appraisal Discussion
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #1  
Old 06-30-2011, 01:27 PM
John Marshall's Avatar
John Marshall John Marshall is offline
 
Join Date: Jan 2002
Location: Atlanta area (Woodstock)
State: Georgia
Professional Status: Certified General Appraiser
Posts: 983
Default Waterfront condo

I had earlier requested some information on a condo unit my son was buying in New Smyrna Beach, FL, and received very welcome advice.
Now that they have purchased it they are having difficulty in financing - not because of their situation as they are putting down about 20-25% and have excellent credit ratings. Apparently the complex is predominately investor-owned and they advertise rentals on a weekly basis as well. That takes it out of FHA, Fannie Mae and Freddy Mac. Apparently the only option is a mortgage company or investment arm that keeps its own paper.
Anyone down in the Florida waterfront areas have any suggestions?
Thanks all.
Sponsored Links

  #2  
Old 06-30-2011, 01:39 PM
Restrain Restrain is offline
 
Join Date: Jan 2002
Location: Port Charlotte, FL
State: Texas
Professional Status: Certified General Appraiser
Posts: 10,449
Default

Credit union, local bank that will hold its own notes. Check with a local mortgage lender in that area. There's a lot of condos that will not fly on the secondary market for all sorts of reasons.

Good luck
  #3  
Old 06-30-2011, 04:08 PM
John Marshall's Avatar
John Marshall John Marshall is offline
 
Join Date: Jan 2002
Location: Atlanta area (Woodstock)
State: Georgia
Professional Status: Certified General Appraiser
Posts: 983
Default

Thanks but just found out that it is a condo-hotel. Apparently the definition is renting weekly and having an on-site manager. A devil to mortgage but ironically it is a 4-star building according to the hotel industry. I wonder if we called Donald.......
Sponsored Links

Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 06:29 AM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93