Market conditions, past comparables, and rental comps can all support a reasonable deal yet things can linger below the surface that you wouldn’t think about when selling a condo fast for cash in Miami.
Is it Tenant Friendly?
The most important factors for anyone buying a property with HOA is whether the property can be rented, and if so, how soon after they buy it can the fast home buyers could rent the unit out. Find out with your board what are the rental terms, like seasonal rental, yearly lease, or no tenants at all.
How healthy is the association
Sometimes you might be at risk owning a unit that may be dramatically underfunded. Not only are the elevators aren’t working, but when the AC units need to be replaced the associations can’t afford the repairs. Find out whether the association is doing a thorough job with handling its finances, chances are that the investment company will buy your condo will want to know this information to plug the right cash offer for your condo.
Before undertaking a major task like selling your condo fast for cash you must know and be informed of any or previous assessments.. Are the any major capital improvements planned? If the association is or planning any roof repairs, painting, fence, etc. You need to know first hand how long is that good to take and how much it’s going to cost your unit per month. Oftentimes, this isn’t a big issue with the company that will be buying your unit for cash, but it helps further calculate how much of an investment it’ll take to get that unit cash flowing properly while taking into Account future or current assessments
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