The permitting process is expected to take a few months to finalize.

That window of course has not yet opened due to the fact that the new plan is not finalized.

Know your data. 

As with most PUDs, the developer handed things over to a management company who immediately started a $400/month assessment once the final unit in the development was sold. 

Finally found this one and took advantage of the low interest rates by winning the bidding war with an offer slightly above asking price.

(ATTOM)While specific monthly foreclosure data for Maricopa County in 2024 is limited, earlier in the year, in April 2024, the county recorded 281 foreclosure starts.

Steps to PrepareGet Market Data: Research comparable sales to determine the property’s value.

While this insight is valuable, it’s important to remember that thorough analysis is always crucial before making any final decisions. 

Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:• Purchase Price: $215,000• Down Payment: $43,000• Loan Amount: $172,000• Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):• Monthly Payment: $1,573.39• Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):• Remaining Balance: $78,556.96• Monthly Payment: $1,541.18Additional Conditions:1.

Finally, someone responded on the 4th day stating they could not cancel it so I decided to wait for it rather than order a different one. 15 days later, they send me an email letting me know to expect the refund for that bedframe.