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Thinking of Going Condo?
July 29, 2011 by cherylflynn · Leave a Comment
If you’re considering moving into a condo, here is a quick questionnaire! You and your lender will want to have answers to these questions when comparing communities and evaluating the pluses and minuses.
1. Date
2. Condominium Project Name
3. Address
4. Name of Primary Contact Person
5. Primary Contact Person
6. Primary Phone number
7. Type of Condo Project Proposed ____ Under Construction ____ Existing ____ Conversion _____
8. Total number of units ________ Total Number of Phases _____ Number of Units in Phase ________
Number of Units for Sale ______ Number of Units Sold _____ Number of Units Rented ______
9. What is the total number of units with FHA insured Mortgages? ___________________
10. Does any single entity own more than 10% of the total units in the project? Yes ________ No ________
11. How many owners are in arrears on association fees? (More than 30 days past due) ___________
12. How many units are Owner Occupied? ____________
13. Are the homeowners in control of the Homeowners Association (HOA)? Yes________ No _______ Date of transfer? _______________________
