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Frequently Asked Questions

• What is a Condominium? The absolute ownership of a unit in a multi-unit building based on a legal description of the airspace the unit actually occupies, plus an undivided interest in the ownership of the common elements, which are owned jointly with the other condominium unit owners.  In every day language, you own exclusively your own condo unit interior space as far outward as the painted walls and everything in between them.   You also own an undivided and equal share of the entire property in common with all of the other condo homeowners in the complex.  This includes the grounds, parking, common area and entire building structure.
• Have the Condos been approved by Ada County and other authorities?  Goose Creek Condominiums (marketed as Condos At Silver Lake)  is a condominium project in Boise, Ada County, Idaho which has been developed pursuant to the Idaho Condominium Property Act, Chapter 14 of Title 55, Idaho Code.   The procedure under Idaho law is to prepare and submit a Condominium Plat and Declaration, both of which must be approved by the governmental entities having jurisdiction over the land where the project is situated.  Once the necessary approvals have been obtained, the Plat and Declaration are recorded.  The Plat for this project was recorded on September 15, 2006, as Instrument No. 106148166, in Book 96 of Plats, at Pages 11896 through 11907, records of Ada County, Idaho.  The Declaration was recorded on October 5, 2006, as Instrument No. 106158936, records of Ada County, Idaho.   Click for>> FULL DOCUMENT explanation is available from developer's attorney, Fred Ramey, Esq., Boise ID.
• Where do I get Financing?First Horizon Home Loans,  Countrywide Home Loans and Home Source Mortgage in Boise can provide conventional financing to buyers with low or no down payment provided the borrower has satisfactory credit, adequate income and nominal funds available. (Contact Don Lillie at First Horizon Home Loans; 208-465-8804 or cell 794-6394,  Craig Ballhagen at Countrywide Home Loans: direct line 938-6619 and cell 713-3309 or Kara DeWitt at Home Source Mortgage;  208-376-8490 and cell 514-9747) Unless the buyer is paying cash or otherwise has the full purchase price amount arranged for in advance, it is important to apply for the necessary financing and to be pre-qualified at the time of making an offer or signing your reservation agreement.  This will enable the transaction closing and final sales/purchase paperwork to be completed as planned and on time with no unpleasant surprises. Contact info for another source of conventional financing: Sam Merkling; Owner/Broker, Independent Mortgage Group 208-672-8627 office and 208-866-2807 cell phone.
• Como encontrar financiamiento para los latinos?  No importa su estado financieros, llámeme y lo puedo ayudar con el préstamo para su casa.  Para su servicio: Nancy Baca en Home Source Mortgage;
•  telephono 208-376-8490, y cell 794-5969.  Se Habla Español  
• What about Insurance against Hazards and Homeowner Losses?  The Homeowner's Association carries a master policy that insures all of the structures and the improvements on the property as well as providing for certain liability insurance with specified limits of coverage.  That policy and coverage is with Kurt Pflegar of Farmer's Insurance at 208-345-5111.  A copy of that Master Insurance Policy is available for download.  Individual condo owners will likely want to arrange for their own contents and individual homeowner policy for items within the confines of their condo unit and to provide for their own personal liability coverage.
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• Where are the Condos at Silver Lake located?  Just a few minutes walking time from the Boise River and greenbelt, and a couple of miles west of the downtown area, the Condos At Silver Lake have an excellent central location in NW Boise.  They are also very close to local shopping, parks, schools, restaurants, and other conveniences.  Additionally, the foothills are nearby as are the main roads going North to skiing and other destination areas.  BSU is approximately 15-20 minutes away by bicycle when using the beautiful greenbelt along the north side of the river.  Click here > for a local Map.
• Are there any Restrictions on Ownership?  Anyone can purchase one or more of the Condos at Silver Lake, with no restrictions as to age, familial status, occupancy, race, religion, or otherwise.  There are however, a number of rules and regulations (covenants and restrictions or "CC&R's") that are designed and written to protect the integrity and value of the properties and the peaceful enjoyment by the property owners.  Of course, the new prospective owners will have to have the financial capability to pay in full for their condo unit at the time of closing; either in cash or new loan proceeds from a lender of their choice.
• Are These Condos New or Under Construction?  All three buildings and 42 condo homes were built new and completed with a Certificate of Occupancy issued in May of 2004.  They have all been under rental or lease agreements since that time and are now approved with city of Boise and Ada county with the condominium plat and condo declaration officially recorded with the county assessor..  A local engineering firm handled all of the physical work, applications and logistics of the complicated process of Condominium Platting and conversion.  
• What about the Carports?  Carports are available for 31 of the condos, with the possibility of two additional that would be free standing, so some of the homes will not have covered parking, but will instead be priced lower.  The carports are planned for construction and completion by approximately December 8th, 2006.   All work will be completed to meet local building codes and good building practices.  They are attractive and similar in appearance to our photo illustration shown elsewhere in our web site and promotional materials.
• Who will administer the Homeowner's Association (HOA)?   The HOA will be administered by a local CPA accounting and HOA mgmt. firm with many years of experience.  The firm name is Harold Busmann, CPA and they can be reached at 208-898-4000 during normal business hours.  The email address is hbusmann@cableone.net  Billing, receipts, annual statements and reports, and all other aspects will be handled in an efficient and economical manner.   Once all of the individual condo units have been transferred from the builder developer to 42 different owners, the HOA  will at that point actually be under the control of the collective ownership group comprised of the individual condo owners.  Likewise, the management company for the HOA acts under the direction of the those same property owners through the workings of the Homeowner's Association. Each condo owner has a voice and one equal voting right in the homeowner's association for the Condos at Silver Lake.
• Will all of the condo units be sold to new owners, and what percentage will be owner occupied?   The builder has signed an Affidavit indicating that he intends to sell 100% of the 42 condo units and will maintain an initial ratio of over 50% occupied by owner occupant condo buyers.  This ratio makes the financing easier and more readily available with conventional financing and lower down payments.  Additionally, a higher percentage of owner occupants will likely result in a more well kept and appealing living environment that will likely lead to better appreciation, resale, and general appeal.  However, there are no deed restrictions as to who may occupy any of the condo units.

Sales & Marketing By: House of Brokers Home Team

6315 Ustick Road; Boise, Idaho 83704

www.hometm.com (208) 327-9880