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Fannie Mae Condo Questionnaire PDF 2021-2024 Form
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People also ask
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Who typically pays for the condo questionnaire?
The fee for a condo questionaire is generally about $250-300. The prospective borrower typically pays the fee. -
Why does a lender need a condo questionnaire?
The questions concern basic information about the development, insurance coverage, rules around reselling, and more. Since the HOA makes property decisions that can affect a lender's willingness to finance the sale, the questionnaire responses are typically part of the mortgage approval process. -
What questions are on a condo questionnaire?
It includes questions about: Basic information about the condominium, including whether it's finished or still being developed. Questions about common charges (What they are now and when were they last increased) – This is useful information for buyers as well. -
How much is the condo questionnaire fee in Massachusetts?
The charge for the Standard* Condo Questionnaire is $150. -
How much is a condo questionnaire in Florida?
How Much Does A Condo Questionnaire Cost In Florida? A condo questionnaire typically costs between $250 and $300, and the fees must be paid by the borrower. -
What is condo questionnaire fee?
Each condominium management company charges fees for completing this form and the fees can vary from association to association. They can range from $150 - $800 sometimes more. These fees are non-refundable and will need to be paid in full prior to the form being completed. -
How long is a condo questionnaire good for?
The streamlined PERS submission process for established projects requires the Condominium Project Questionnaire (Form 1076), or a substantially similar form, to be completed within the past 180 days. For complete topic details, see B4-2.2-06, Project Eligibility Review Service (PERS). -
Who completes the condo questionnaire?
A representative of the condo association must fill it out, which can add another stressful factor to the closing and mortgage approval process. If the HOA or management company does not fill the form out in a timely manner, the financing for the purchase may be at risk and cause the sale to fall apart.
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