Michigan Realtor Juanita Hawkins: Condotel Expert

Michigan Realtor Juanita Hawkins: Condotel Expert

Gustan Cho Associates are mortgage brokers licensed in 48 states

This BLOG On Michigan Realtor Juanita Hawkins Was UPDATED On December 24th, 2018

A Condotel, also known as a Condo Hotel, is a condominium unit in a hotel where it is individually owned.

  • The Condo Hotel management staff takes care of all the management and maintenance
  • Tasks and duties such as daily rentals, bookkeeping, room service, and housekeeping are managed by the Condo Hotel HOA in return for a percentage of revenue collected by renting the owner’s condotel unit
  • The Condo-Hotel unit owner can use the Condo Hotel whenever they are in town and while they are away
  • Condotel Unit owners can have the Condo Hotel management staff rent it for income and maintain it

In this article, we will cover and discuss Condotel Financing Guidelines.

Juanita Hawkins: Michigan Condotel Expert

Condo hotel units are extremely popular in Florida but are also becoming very popular in Michigan.

  • Michigan top producing realtor Juanita Hawkins is a Michigan Condo Hotel Expert.  
  • Juanita is the only realtor in the state of Michigan who has contacts and close relationships with Condo hotel mortgage lenders and can help any Michigan Condo Hotel buyers get a pre-approval the same day.
  • Folks who live out of town and have always dreamed of owning a vacation home in the state of Michigan, Condo Hotel Expert Juanita Hawkins will assist

Juanita will not just be showing available Condo-Hotel units, but also with the Condo Hotel mortgage process until the dream Condo-Hotel unit closes.

Michigan Condo-Hotel Unit Purchase Process

Condotel Unit Buyers interested in purchasing a Condotel unit in Michigan, contact Michigan Realtor Juanita Hawkins.

  •  Juanita will then make the introduction to one of her Condo Hotel Correspondent Portfolio Lenders and assist with the pre-approval process
  • It normally takes no more than 24 to 48 hours to get a Michigan Condo Hotel  mortgage pre-approval
  • Once Juanita Hawkins gets the green light from the Condo Hotel mortgage lender, she will show the available Condo Hotels that have Condotel units for sale
  • Popular Condotel units available at the Ritz, Hyatt, and Marriott

Condotel units range from as low as $100,000 to over $3,000,000.

Condo Hotel Unit Purchase

Condo Hotel unit owners are extremely selective in showing their Condotel units.

  • Michigan Realtor Juanita Hawkins is probably the only Michigan Condo Hotel Expert who has access to Condotel mortgage lenders
  • Most realtors do not even think Condo Hotel Financing exists
  • Most realtors will tell their Condo-Hotel unit buyers that if they are interested in purchasing a Condo Hotel unit in Michigan, they need to be a cash buyer
  • That is so untrue
  • Granted, Condo Hotel financing is extremely rare if not obsolete

Even portfolio mortgage lenders will not lend on Condel Hotel units.

Getting Pre-Approved For Condotel Financing

Many times, even with a Condo Hotel pre-approval letter, the seller of the Condo Hotel unit might have second thoughts of showing their Condo-Hotel units.

  • In the event that scenario happens, Juanita Hawkins will take charge and have the seller contact the Condo Hotel unit mortgage lender directly

This often guarantees a showing and the ability to present an offer on the Condo-Hotel unit.

Contact Realtor Juanita Hawkins

Once you decide on the Condotel unit, Juanita Hawkins will present a one page Condotel questionnaire to the Condo Hotel homeowners association.

  • The Condotel questionnaire is a list of basic questions concerning the financial stability of the Condo Hotel as well as the building standards
  • The Condotel unit lender does not want the Condo Hotel complex to have any financial issues such as potential bankruptcy proceedings or major foreclosure rates in the Condo Hotel as well as no major building violations or structural issues.
  • Once Juanita gets the completed one page Condotel questionnaire, it gets submitted to the Condotel mortgage lender for review
  • Normally, the Condo Hotel questionnaire gets reviewed within 24 hours from the time it gets submitted

Once you get the Condo Hotel questionnaire approved, you can enter into a Condotel purchase contract which Juanita Hawkins will quarterback with the selling Condotel realtor or Condotel unit owner.

Juanita Hawkins: High-End Real Estate Expert

Once entered into the Condotel purchase contract, Juanita Hawkins will give the Condotel mortgage lender the green light to proceed to process the Condotel mortgage loan request.

  • Condotel Unit Buyers can get an official Condotel mortgage loan approval within 48 hours from the time they submit the Condotel mortgage application and documents

Contact Michigan Condotel Expert Juanita Hawkins

Who is Juanita Hawkins: a high-class real estate expert

Condotel Unit Buyers interested in purchasing their dream Condotel in the state of Michigan can contact Award Winning Five Star Realtor Juanita Hawkins or call her at 313-520-3108.  Juanita Hawkins is one of the top ranked realtors in the state of Michigan and is nationally recognized for her expertise and knowledge in real estate.

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One Comment

  1. I’m looking to buy a single-family home in Seattle Washington. I have a 584 credit score and have charge offs and collections account from 2 years ago. Only one collection account of $43K. I read you don’t do lender overlays so this might help me qualify for more under the FHA program.

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