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Get Full Review Condominium Project Questionnaire
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How to fill out the Full Review Condominium Project Questionnaire online
The Full Review Condominium Project Questionnaire is an essential tool for gathering important information about a condominium project. This guide will help you navigate the online form step-by-step, ensuring that you provide accurate and complete information.
Follow the steps to successfully complete the questionnaire.
- Click ‘Get Form’ button to obtain the questionnaire and open it in your preferred editor.
- Begin by providing the branch contact information, Fairway Loan number, borrower(s) names, and the property address including city, state, and zip code. Ensure the project legal name is accurately entered.
- Indicate if your unit is in a specific phase of the project by noting the phase number, if applicable, and whether the units in the project are attached or detached.
- Fill in the total number of phases and units for the entire project, including details such as units completed, units for sale, units sold, and units rented.
- Answer whether the current number of existing units differs from the planned number, and if so, provide the exact figures.
- Confirm if the project is fully constructed and all common areas are completed. If not, specify the phase conditions and status.
- Indicate whether the project is subject to further phasing or annexation and provide necessary details if applicable.
- Complete the grid for all project phases if the project does not meet the required criteria, such as occupancy and HOA control.
- Provide the date when unit owners gained control of the Condo HOA and the monthly HOA fee range.
- Answer questions regarding ownership limits, pending litigation, non-residential space, and delinquency in assessments, ensuring to provide accurate figures and details as required.
- Investigate if the property is a conversion and detail the conversion date and type. Also confirm compliance with local and state laws pertaining to HOA dues.
- Address questions about environmental factors, leased land, ownership rights, rental policies, and the annual budget.
- Lastly, verify whether the project is professionally managed, insurance details are correctly logged, and sign the certification section with your information.
- Once you have filled in all necessary fields and provided all required documentation, you can save changes, download, print, or share the completed form.
Complete your Full Review Condominium Project Questionnaire online today for efficient processing.
The criteria for a full review is that the condominium needs to have 51% or more of its units be an owner occupant. This means it needs to be a warrantable condominium unit. Mortgage lenders do not want to see any more than 15% of the condo homeowners association dues delinquent for more than 30 days.
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