Condos and Townhomes in Minnesota
If you are searching for condos and townhouses for sale in Hennepin County then you have come to the right place. The Minnesota Property Group of Re/Max Results is here to talk you through how you can utilize this website as well as all of the related home buying resources, tips, tricks, and advice we've accumulated over the last 16 years.
What to consider when buying a Town House or Condo
Before you get too excited about any particular condo or townhouse development you will want to know the kind of financing that you will be utilizing. If you know you are only qualified for an FHA mortgage, you will want to be sure that the condo or townhouse you are looking at is approved for FHA financing. Several developments in the Twin Cities are approved for FHA financing, but there are several that are not.
Don't forget about Association Dues and Association Rules and Regulations
The next thing you will want to consider when buying a Town House or Condo in Hennepin County are the association dues, association covered expenses, the financial history and standings of the association and the restrictions of the association. In Minnesota, the law gives you 10 days to review all of the association documents before you are legally obligated to move forward with the transaction. During this time you will want to be sure you have considered all of the ramifications of the governing documents for that association. Many townhome and condo developments in Minnesota have restrictions on the number, size and sometimes even the breed of the animals allowed in the building. There are a lot of developments that do not allow the owners to rent their units out. This can be seen as a positive but also can be a negative if you are an owner that would benefit from being able to rent their unit.