Thinking of selling your condo? Read these must-know finance regulations!
One of the most common and tricky hurdles of condo transactions are financing troubles. They can be caused by a variety of factors and unfortunately many times they’re the issue that makes a sale fall apart. Below are some of the most common financing issues:Renter versus Owner Ratio:This is a stat that your Homeowners Association (HOA) should be monitoring. If the percentage of owners renting out their units is too high then many banks will be weary of providing mortgages to that property. Typically they like to see a rental ratio of under 50%.Single Owner Interest:Banks don’t like to see one person or entity owning more than 10% of the units in a community.Commercial Interest:If your community has a portion of that is commercially zoned, banks typically want to see that it is no more than 25% of the community.These are the typical big 3 issues. How to remedy them? Well that’s something that can be tricky in some scenarios and easier in others. It starts with the HOA. They should be aware of these statistics and proactively impose regulations to make sure that they keep the community as “mortgage friendly” as possible.If that has been neglected, then your other hope is that the agent you work with has a network of lenders that can specialize in unique financing scenarios. An agent who is adept at condo sales should have a repertoire of portfolio lenders to navigate these issues.If you have questions, comments, or require lender recommendations please feel free to reach out to us.
EVENT: Hops & Homes
The event is full!
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An Educational Event for Home Buyers
Wednesday, March 29 from 6:30 to 8pm
at Shovel Town Brewery in Easton, MA
Enjoy fresh beer and tasty apps at a brand new brewery while our team teaches you everything to know about buying a home. We’ll have a real estate agent, mortgage lender, lawyer, and home inspector on hand to answer your questions and share their insider knowledge. Then you’ll leave with a guide that contains everything a home buyer needs!
Meet the Team:
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The Real Estate Agent - Tracy Kok
Tracy has over 20 years of experience. Her approach is “real estate on your terms,” a personalized, value-packed experience that is tailored to what you need from your real estate agent.[/trx_column_item][trx_column_item]
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The Mortgage Expert - Dorine Boyd
Dorine is the go-to specialist for home financing needs. Specializing in refinancing, portfolio lending, and new construction, she works hard to personalize lending for your needs.[/trx_column_item][trx_column_item]
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The Attorney - Stephen Kenny
Since earning his J.D. from Suffolk Law, Stephen has focused his practice on real estate law representing buyers, sellers, lenders, and developers through all stages of residential real estate transactions.[/trx_column_item][trx_column_item]
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The Home Inspector - Derek Gimler
When it comes to taking care of your home, Derek knows best. He’s got an expansive general contracting background and when we tell you that he knows what’s best for your house, we mean it.[/trx_column_item][trx_column_item]
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Join the wait list!
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To sell, or not to sell?
An Educational Event
Saturday, January 28 from 1-3pm at the TPC in Norton, MA
Why’s a real estate agent, financial advisor, mortgage lender, home inspector and interior designer all in one room?To help you make smart real estate decisions! Bring your questions to this zero-pressure discussion and get tips and knowledge for your real estate future.Limited seating, reserve your spot today![trx_button type="square" style="light" size="medium" align="center" top="20" bottom="40" link="#reservation"]Reserve your spot[/trx_button]Sponsored by:
Meet the Team:
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The Real Estate Agent - Tracy Kok
Tracy has over 20 years of experience. Her approach is “real estate on your terms,” a personalized, value-packed experience that is tailored to what you need from your real estate agent.[/trx_column_item][trx_column_item][/trx_column_item][/trx_columns][trx_columns count="4"][trx_column_item align="center"][/trx_column_item][trx_column_item span="2"]
The Mortgage Expert - Dorine Boyd
Dorine is the go-to specialist for home financing needs. Specializing in refinancing, portfolio lending, and new construction, she works hard to personalize lending for your needs.[/trx_column_item][trx_column_item][/trx_column_item][/trx_columns][trx_columns count="4"][trx_column_item align="center"]
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The Financial Advisor - Kelly Fox CFP®, MBA
Kelly is here to help you be smart about managing your money so that you can plan for your dreams of today, tomorrow, and the future. It’s all about breaking your financial goals down into manageable steps.[/trx_column_item][trx_column_item]
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The Home Inspector - Derek Gimler
When it comes to taking care of your home, Derek knows best. He’s got an expansive general contracting background and when we tell you that he knows what’s best for your house, we mean it.[/trx_column_item][trx_column_item][/trx_column_item][/trx_columns][trx_columns count="4"][trx_column_item align="center"]
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The Interior Designer - Maureen Reddy
Maureen is a savant when it comes to home staging and design. She has the ability to completely transform your home - it will look like it belongs on the cover of a magazine![/trx_column_item][trx_column_item]
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Limited seating, reserve your spot today!
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Home Appreciation Plan
We want our clients to love and appreciate their home while preserving or increasing its value at the same time! To help with this, we've created the Home Appreciation Plan. It's a simple, seasonal guide that includes tips for maintaining, enjoying and enhancing your home. We see a lot of our clients making their home perfect so that it will sell - it's time to make it perfect so that you can live well!
Home Appreciation Plan Sign Up
Receive a plan in your inbox every season!
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Summer in Norton, MA
There are a lot of reason's to love living in Norton! One of them is that there is no shortage of things to do in town and the surrounding areas. Here are some of our favorite summer time activities for you and the family:[trx_columns count="2" bottom="50"][trx_column_item]
Explore on the Reservoir
Do some fishing from the shore or go for a paddle! You can bring your own or rent from the Norton Kayak Co - they even offer full moon tours and guided fishing trips![/trx_column_item][trx_column_item]
Adventures at Borderland
Whether you want to hike, bike, walk the dog, or fish, Easton's Borderland State Park is a great place to enjoy the outdoors for just a modest parking fee of $5.[/trx_column_item][/trx_columns][trx_columns count="2" bottom="50"][trx_column_item]
Visit Winslow Farm
Norton is home to a great non-profit animal sanctuary, Winslow Farm. Stop by with the family and pet some of the animals or just enjoy the sights![/trx_column_item][trx_column_item]
Golf or Frolf
One thing this area has no shortage of is golf courses for all skill levels. MGA Links is a terrific beginner course, while Norton Country Club will test your ability to hit the ball straight. And if you just want to practice, Norton is home to one of the best driving ranges in the area - The Golf Learning Center.As for disc golf, Borderland has one of the nicer courses around, and Dacey Fields in Franklin is a close second![/trx_column_item][/trx_columns]