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. Moving with very little personal connection to the city was difficult and at times overwhelming, but she knew it would suit her lifestyle and be a place that reinforced the values she wanted for her children, and she was right! A mother of three (four, including her dog Eli), she has navigated new neighborhoods, schools, and other city resources and looks forward to sharing that knowledge with people looking to create or renew their own sense of place. The idea of "home" means something different to everyone and Sally's goal for her clients is to find the place where that word resonates for them. Every stage of life provides an element of transition and that often comes with a desire to change your surroundings. For some, it could be a question of space while for others it is changing scenery between the city and the country. Sally has lived in apartments, condominiums, teepees (long story), studios, rented houses, and now owns a home as well as a few rental properties with her husband in Portland. Sally is an avid skier and music fan and loves that this city provides the opportunity to pursue all of those interests in such an accessible way. Her sports loyalties still lie on the east coast, but she has caught the Portland Timbers bug and loves going to games with her family: the camaraderie is contagious! Ever the optimist, she believes that positive relationships and people are the key to personal and professional success, especially when it comes to real estate! She loves sharing her experience and wants to guide her clients to the place they call home.
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