Non warrantable condos

[Matt DuSold]

I'm in very initial stages of looking at a property that is non warrantable but obviously don't have all the cash to put up for it. So I was trying to think of some ways around it. I know there was a post on here over a year ago about these but I didn't know if anyone has had experience with them lately? I hear that loans are getting easier to get for them.

If anyone has had experience with these types of properties I would love to hear about it. This is actually a very nice property but the amount of forclosures in the building has killed it. I believe the status of the building can change if it passes the whole check list to become warrantable although I may be incorrect about that, which would concern me about retail value.

Obviously I don't know too much about non warrantable properties but wanted to look into it. I didn't know if it really is that bad and something I should run away from or if no one has that much cash to come up with in order to make the purchase. Any help is appreciated!