Ocean Club Condominium Fort Laudedale Updates Look Great

Posted by Eric Miller on Wednesday, May 16th, 2012 at 8:32am.

Recently the Team at Eric Miller and Associates Keller Williams Realty Professionals in Fort Lauderdale entered into a contract for sale representing the buyer of a condominium at Ocean Club Condominium at 4020 Galt Ocean Drive in Fort Lauderdale. Though we cannot discuss the sale until after it closes we did want to bring to your attention a Fort Lauderdale Beach building worth seeing if you are looking to purchase a Fort Lauderdale Condominium.

Fort Lauderdale Beachfront Condominium 

Built in 1972 the 21 story building houses 207 Fort Lauderdale Condominiums directly on the beach. Over the last view years the building has completed many renovations throughout and today is a pleasure to show, with the roof top pool being a feature not to miss. From the lobby to each of the community rooms Ocean Club Condo has an elegant feel of a well cared for property.Galt Ocean Condominium

Financials of a Fort Lauderdale Condominium

In the post Wilma Days, and after the banking disaster of the last few years condominiums have been asked to meet certain criteria in order for a buyer to purchase with a Fannie Mae backed loan. At a later date I will discuss the Fannie Mare guidelines and their my opinion of their validly, however for the purpose this article I want to point out that not all loans are Fannie Mae and mortgage financing is available at this Fort Lauderdale Condominium. The building does have a line of credit which has been used during the renovations, examining their financials you will most likely see that the loan is being serviced in the same fashion some properties may contribute to a reserve fund.

After hurricane Wilma when many buildings needed access to large amounts of money quickly many Fort Lauderdale Condominiums created the added level of financial security of having a line of credit available to them. Personally we see this as responsible management of the building and it finances. Looking for more information about Fort Lauderdale Real Estate we are always here to help.

Eric Miller is an award winning Florida Realtor, salesperson and broker. His website, FortLauderdaleGroup.com provides an up-to-date guide to Fort Lauderdale Condos for sale, and the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.

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