So you a ready to buy a second home or want to buy a good investment, and were thinking of a condo.
Yet, many condos are purchased with cash. But why?
With financing standards tightening heavily in the past few years condos were left behind. Financing limitations caused condos to take longer to recover since they were mostly limited to cash buyers.
But with low inventory now, condos are coming back. Yes you still have a lot of cash sales but we are starting to see more financed sales.
You want to make sure to speak with a local lender and ask them their experience with condo financing, as well as how many they have done in the past year.