Why some Lauderhill condos are hard to finance

Most buyers need a mortgage, and before a lender approves a condo loan, it reviews the association as well as the unit. Lenders often decline when many owners are behind on dues, one investor holds a large block of units, reserves are underfunded, the association is in significant litigation, or the building has critical structural repairs pending. Loans sold to Fannie Mae and Freddie Mac follow guidelines like these.

When a building fails that review, the realistic pool of buyers shrinks to people paying cash. We are one of them, and we explain how the association's condition affects our offer.

Inverrary and complexes from the same era

Inverrary grew up around golf courses in the 1970s and today includes single-family homes, villas, and many condo buildings. Other Lauderhill complexes from the same period line the city's main roads.

Buildings of that age are dealing with roofs and plumbing at the end of their life, rising insurance, and, for buildings three stories or taller, Florida's milestone inspections and structural integrity reserve studies. Associations that held dues down for years are raising them or levying assessments to catch up.

Association rules that narrow the buyer pool

  • Board approval of new owners, often with an application fee and a background check
  • Leasing limits, such as a waiting period before a new owner may rent the unit
  • Age restrictions in some complexes
  • Pet, vehicle, and occupancy rules that turn some buyers away
  • A recorded association lien when an owner falls behind

Lauderhill houses and duplexes

Outside the condos, Lauderhill has neighborhoods of single-family homes and duplexes built mostly from the 1960s through the 1980s. We see roofs near the end of their life, older plumbing, rooms added without permits, and rentals with tenants who have stopped paying. We buy these as they are, with tenants in place if needed.

At the closing table

The title company gets the association's estoppel letter, which lists any dues, assessments, and fees owed, and those are paid from your proceeds. By Broward custom, the owner's title insurance is a buyer expense, though the contract has the final word on every cost. You can sign with a mobile notary if that is easier.

Frequently asked questions

Will you buy a Lauderhill condo that lenders won't finance?

Yes. We buy with cash, so the association does not need to pass a lender's review. We factor its finances and any assessments into our offer.

Do you buy condos and villas in Inverrary?

Yes. We review the association's documents and approval process and plan the closing around them.

I'm behind on my condo dues. Can I still sell?

Yes. The past-due amount appears on the estoppel letter and is paid at closing. If the association has started a foreclosure, contact us right away and consider speaking with a HUD-approved housing counselor or a Florida attorney.

Do you buy rented units in Lauderhill?

Yes, as long as the lease complies with the association's rules. We review it, and the tenant can stay through the sale.