Can't Close Escrow on your High Rise Condo? What Can You Do? Find Out Here

Over the last month or so i have received an increasingly large amount of phone calls from High rise Condo buyers who are not in a position to close escrow on their vertical property's for one reason or another. I have encountered people who can't qualify for the loan and people who can qualify but don't want to close. There are so many different situations that people are in that it just doesn't make sense. I have had people call and tell me one thing and others tell me the complete opposite. If you are in this situation you first need to read your sales contract thoroughly, then contact the sales department at what ever development you have a property under contract at. In my experiences the developers are more than happy to help people out in these types of situations to the best of their ability. Once you have talked about your situation with a development representative you will have a clearer understanding of what your options are. After you understand what options you have it will make things easier on yourself and you can work on things from there. The #1 problem that i have been hearing from people in these types of situations is that they either can't close escrow or they can close but don't want to pay a high down payment. One solution that some developers are allowing people to do is to do a contract transfer or assign their contracts to someone else. This is only an option for people who have been specifically told by their developer that they can do this and if you haven't been told this then your not allowed to do so. I have helped several people who have gotten the OK from the developer to do a contract transfer but the task has not been easy. People who can't close on their High Rise Condo need to understand the quicker they take action and speak to the developer about their situation the easier it makes it on everyone. Now on the positive side of this equation if you are able to close and don't have a problem with paying a little higher of a down payment than a traditional style loan then you are in a great position. The reason you are in a great position is that you can pick up property's at 2005 &2006 prices which means instant equity for you. This is only a good idea if you want to buy a High rise Condo and don't want to pay 2008 prices and also you have the opportunity to pick up some very prime unites with some of the best views in town. Like i mentioned earlier i am currently working with several people who can't or don't want to close on their Condos so if your interested in this type of deal i can be of help to you. I have access to Palms Place and Trump International Condos that are way below what the developer is selling their Condos for because like i said these property's were put under contract a few years back during pre construction phases of the developments. Contact me today to learn more about how you can pick up a High rise Condo at 2005 prices in 2008:)

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