Blog Alberta Arts What happens if a condo association isn't FHA or VA loan approved?

What happens if a condo association isn’t FHA or VA loan approved?

By Sally Tansill, December 12, 2022

My client closed today on his 2 bed/1 bath condo in NE Portland. The unit had been listed since April and it took perseverance and price reductions to find the right buyer and terms. The offer we received came from a buyer who was using a VA loan to purchase despite the fact that the condo association was not approved. The obstacle was not a hard one to overcome as the quality and finishes of the unit were top-notch. The magic for this transaction was a lender who had a team in place to get the approval needed at the VA to make it a win for all the parties. If you are FHA or VA-approved and are interested in a condo make sure you ask questions and see if there is a way to get to “yes” for you and the seller. It worked for my client and it might work for you too.

Sally Tansill

Broker | ABR® | HFR | OR

She/Her

Sally moved to Portland with her family in 2012 from Brooklyn, NY, seeking an improved quality of life and a change of pace from her busy career in the sports industry...
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  • T: 917-797-2776
  • sally@livingroomre.com

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