Some Salt Lake City condos have laundry in the unit, some have a shared laundry room and on occasion no laundry is available. If having laundry inside your condo is important, make sure you tell your Salt Lake City Realtor® this.
Salt Lake City Condos as Rental units:
Most condo complexes have a limit on the percentage of units or which units can be rented out. The reason for this is that Freddie Mac and Fannie Mae, which are the big underwriters for residential mortgages in the U.S., will not loan on a condo unit if it is in a complex that has too many rentals. If the condo complex has too many units rented out, then the only type of financing available is non-conforming financing at a higher interest rate and this can push values down. If you plan on renting the unit out, you better ask if it’s allowed before you buy it.
If your plan is to move from one home to another, just putting your home on the market isn’t enough. Your home will need to be ready to show and you’ll need a strategy to accomplish the sale and purchase of another home in a reasonable time frame.
With 10 years selling homes in metro Salt Lake and 20 years in the real estate business, I have many strategies and an in depth understanding of what it takes to help you sell and buy another home. Call or email me if you’d like to take advantage of this opportunity!
Contact SLCHomeBuyer and Kevin Coyle
