You have less than two weeks to buy a Crofton condo before FHA purchase money for condos dries up on October 1. (Assuming they don’t come to their senses before then and cancel a planned policy change.)
That’s because condo communities approved by FHA before 10/1/08 will lose their approvals, and the process for approving them again is expected to be lengthy. And that is a good reason to buy a Crofton Condo NOW. Any Crofton condo. But…
THIS Crofton condo can be purchased at a price comparable to a short-sale at just $187,000, but it is NOT a short sale. You can avoid all the delays, hassle and frustration that short-sale and foreclosure buyers experience, without paying more – AND you will get FHA financing PLUS the $8,000 tax credit (if you settle before 12/1/09).
But this is no dump or handy-man special… The windows and kitchen counter-tops were recently replaced, and there’s neutral paint and carpet throughout. Washer, dryer and all kitchen appliances are included, and lighting has been updated.
Don’t let this condo in convenient Crofton Meadows get away!
Copyright 2006-12. All rights reserved.
DISCLAIMER: Information contained in this post is deemed reliable on the date of publication, but it is not guaranteed and it is subject to change without notice.
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Margaret Woda, REALTOR and Associate Broker
Direct: (301)346-2923 or click on EMAIL
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Long & Foster Real Estate, Inc., 2191 Defense Hwy., Crofton, MD 21114 (410) 721-1500
Wow. What an awesome sale. We all know short sales are good picks but with no short sale hassles? A no brainy, Margaret. Hope you write about it when you sell it.
FANTASTIC price and a buyer can REALLY buy it; as opposed to a short sale that could take until next year!
Just another problem that we need to deal with on the re approval process. Great way to avoid it on the purchase.
Loreena, this is priced about 85% of current market value - and short sales tend to get approved at the 85-88% range. It is an awesome sale.
James - You're right, it is. And so close to Fort Meade... 'Hopefully someone will put in an offer before Sept. 30 so their FHA loan can be in process before 10/1.
Terry - Fortunately, this seller took my advice to do whatever they could to sell it before Oct. 1. Let's hope it works!
Margaret: I am truly surprised at the price for a condo as nice as this in your area. Someone who doesn't act on this property soon is truly missing a prime opportunity. I think you will have it under contract in no time!
Margaret, short sale price without the short sale hassles sounds just great to me! That one should fly off the shelf!
Margaret this looks like a nice place. Hope you find a lucky buyer for it without any hassles.
Donna, we've had a number of showings at this price, but alas... no offer yet.
Patricia - It should... where are those buyers?
Bill - Me too!