Adelaida “Ady” M. Artime, P.A., Berkshire Hathaway EWM Realty.Phone: (786) 512-2467
Email: [email protected]
Email: [email protected]
Eligible borrowers can use their VA loan benefits to purchase a condominium rather than a single-family home. For first time homebuyers, a condo or townhome can have multiple benefits compared to a standalone house. However, to use your VA loan on a condo property, the property must be within a VA-approved development. Here's a guide to the basics of buying a VA-approved condo as a first-time homebuyer:
It's common for condo communities to advertise or clearly state their VA-approval status. However, if you're unsure, there are resources you can use to find out. The official website for the U.S. Department of Veteran Affairs has a search function you can use to view a list of approved condos in a given area. Searching the list is a great way to find out about other properties you might not have discovered yet in your home search.
If your dream condo is not listed as a VA-approved property, there is still a possibility of using your VA loan to purchase it. To do so, the development would need to gain approval from the VA. The approval process requires official documentation from the development like homeowner association information, occupancy and vacancy reports, financial statements and lot surveys.
A major downside of trying to get your choice of condo approved by the VA is the amount of time required for the process. If you're wanting to close on a home quickly, it would be better to go with a property that is already approved.
There are some different types of approval a property can have from the VA. One of the most important terms to know is "accepted with conditions." If a condo property is "accepted with conditions," it means there is at least one thing in the property's application the VA has lasting concerns about. You may need to fill out an additional form stating you understand the conditions before you're able to move forward.
For first-time homebuyers, buying a condo with a VA loan is a smart choice. However, it's important to understand the process. Keep these things in mind when considering your plans for home ownership.
In her role as a real estate and relocation specialist in South Florida and Northern Virginia, Ady Artime prides herself on providing the highest level of service, confidentiality and professionalism to her clients. Based on her own experience as a government liaison, Ady is in familiar territory working with high powered individuals. She possesses a discreet and confidential work ethic, and her keen eye, attention to detail, and experience with multi-million dollar properties have earned her a high-profile, loyal clientele that expect the best from their realtor.
Known for her expertise and strong background in interior design, she stands out from other real estate agents. When a satisfied client says that Ady knows real estate "inside and out", the statement is to be taken literally. Over the course of her career, she has received recognition as an award-winning interior designer. She has designed and implemented interiors for countless luxury projects throughout the United States, and Europe. Her extensive knowledge of all facets of design, including working with architects and construction teams, led to a natural progression into the real estate arena and gives her a definite edge over the competition in serving her clients.
As and agent in South Florida and North Virginia, Ady lends her real estate expertise and design savvy to buyers and sellers. Ady's mission is to develop a faithful, repeat clientele by providing them with superior service and value. She is passionate about her work and takes the time to understand each client's needs and goals to accurately assess the options she provides. From overseeing the staging of a listed property in order to fetch the highest possible price to analyzing a potential purchase from a design and architectural perspective.
