If you are shopping for a condo home, consider the following reasons to choose a new condo versus a resale…
Casa di Fiori is one of only a few condo communities in Lee County that is FHA and Fannie Mae approved.
Fannie Mae approval of a condo community allows buyers to purchase their home using a conventional mortgage while FHA insured loans have other aspects that some home buyers find helpful. In either case, Casa di Fiori’s move-in ready condo homes qualify.
Obtaining these approvals is a privilege, not a requirement, which is why there are very few condominium communities in the local area with this status. Among the various qualifications, approval requires the community to demonstrate sufficient reserves in the HOA budget, more than 50% of the community must be owner occupied, and the HOA Board members and property managers are expected to maintain property values in the community.
These aspects plus other steps taken by Casa di Fiori to obtain and maintain Fannie Mae and FHA approval should be considered a benefit for home buyers as it demonstrates that the Casa di Fiori developers and HOA Board care about the community and want it to thrive.
See links below for more information…
SELLER RESERVES THE RIGHT TO CHANGE AND/OR ALTER MATERIALS, SPECIFICATIONS, FEATURES, DIMENSIONS, LANDSCAPING AND PRICES WITHOUT NOTICE, ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATION OF THE DEVELOPER, PLEASE REFER TO LEGAL DOCUMENTS AS PER FLORIDA STATUTE 718.503