Thursday, June 9, 2011
Investment Condo Deal of the Week in Oakland
Short sale of newer condo in Oakland. It has been rented for almost last two years for $2,000 per month. Now being offered for short sale at $95,000! Home Owner Association is in litigation, so financing is very difficult. Best option is to buy this home all cash and keep the tenant. Hurry - this will go fast at this price. Bank of America short sale with only one loan!
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2 comments:
Why is the HOA in litigation? How much is the HOA dues?
Typical with condos of this age - many were bought with very low down payments, have incurred losses and in value and the HOA has been hit hard.
The consequence of this is that traditional lenders will not lend in those complexes. Which of course plummets values even further.
Send me a message to mariopinedo@kw.com and I can get you all the details on the litigation.
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