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A condo questionnaire is a document lenders require to fund a property designated as a townhouse or condominium thats part of a homeowners association. The document offers evidence that condominium projects such as Eighty Seven Park Miami comply with the lenders underwriting prerequisites.
Who fills out form 1076?
The traditional portions of Fannie Mae Form 1076 (Pages 1-5) will still need to be completed by the Board or management as before and management can still charge a fee for these services.
Whats the difference between ho3 and HO6?
The main difference is the type of properties they cover. HO-3 insurance covers standard homes, whereas HO-6 insurance covers condos. Another difference is what portions of the property each policy covers.
What is a form 1076?
The Condominium Project Questionnaire (Form 1076) helps lenders collect data to determine condo project eligibility. This form is optional; however, lenders are encouraged to use and retain the form in the loan file. A substantially similar form may also be used in its place.
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.
Related Searches
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People also ask
What is the difference between 1004 and 1073?
The Uniform Residential Appraisal Report (URAR) is the most commonly used single-family appraisal form, and it is also known as Form 1004. Keep in mind that Form 1004C is used for appraising single-family manufactured housing, while Form 1073 is used for condominium units.
What is the 1073 form for appraisal?
An Individual Condominium Unit Appraisal Report (ICUAR) is for appraisals of one-unit properties in condo projects based on interior and exterior property inspections. Also known as Fannie Mae Form 1073, appraisals reported on this form must be completed in accordance with the UAD Specification.
What is included in a condo questionnaire?
A condo questionnaire is a document lenders require to fund a property designated as a townhouse or condominium thats part of a homeowners association. The document offers evidence that condominium projects such as Eighty Seven Park Miami comply with the lenders underwriting prerequisites.
Which ISO form is known as the condominium form?
Condominium Association Coverage Form the Insurance Services Office, Inc. (ISO), commercial property coverage form (CP 00 17) that covers buildings and personal property owned by condominium associations.
What is a 1025 appraisal form?
Fannie Mae Form 1025: Small Residential Income Appraisal Report. This report is used for appraising 2- to 4-unit residential income properties, and includes an interior and exterior inspection of the subject property.
Related links
Condominium | The Princeton Encyclopedia of Self
A condominium is a territorial entity in or over which two or more sovereign powers simultaneously exercise sovereignty rights according to formally agreed
requirements for lender full review of established, new
forms/InterIsland Manual/Fannie Mae Review 6/6/2020 REQUIREMENTS FOR LENDER FULL must be submitted to Fannie Mae for Condominium approval known as PERS.
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