Most of us level-headed people would think that a bank, faced with the possibility of a Trustee Sale or foreclosure and all the costs association with one, would be anxious to unload one of these homes with a ready and willing buyer.
When purchasing a condominium, consider the rules and regulations you will be required to live by. These rules and regulations, usually found in the condominium By-laws and CC&Rs, are created with the intent of providing a harmonious atmosphere within the community.
Holding on is making less and less sense for many owners, and that’s why we’ll see the number of foreclosures and short sales continuing to rise. Is this an opportunity for condo buyers? Perhaps, but caution must still prevail, especially with these scenarios.
Some people like to home or condo-shop for fun on a Saturday. Stop by the sales office. Tour the models. Maybe act a little interested to get the salesperson talking. Real estate agents that work in a sales office know that a certain percentage of their walk-in traffic are weekend-lookers. However, if you’re doing more than just window shopping for condos, there is a good reason not to follow your impulses and walk into a sales office with those weekend-lookers.