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04-02-2013, 11:13 PM
  #712
No Fun Shogun
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Join Date: May 2011
Location: Shogunate of Nofunia
Country: Fiji
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Quote:
Originally Posted by coldsteelonice84 View Post
Exciting, what do they want and what do you want it for?
Nothing set in stone, just a preapproval saying that the bank would be willing to offer me a loan up to a certain amount (enough for a condo, let's just leave it at that). All the details such as the rate and per month payment would have to be determined later.

Just a step to get your foot in the door for putting an offer in on a place.

Quote:
Originally Posted by massivegoonery View Post
I'm in a similar boat. What all are you going to look at before you make an offer?

Like, are you going to do due diligence on the HOA agreement? I'm renting a dude's condo right now and they're trying to pass an amendment so future owners in the building won't normally be able to rent it out. I figure that if something like that exists at a place I want to buy, it would change the value of the place.

That's one thing. I don't know how many more things like that there are.
Yes, I am beginning to look into the condo association as we speak. I'm deciding to hold off on putting in an official offer until I at least visit a few more properties and find out more of the down and dirty about the place.

Of the locations I've visited so far, I've loved one, liked another, and found a potential diamond in the rough if I'm willing to put the time and effort in to repair/clean it up first.

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