Us condominium questionnaire 2025

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The fee for a condo questionaire is generally about $250-300. The prospective borrower typically pays the fee.
The condo questionnaire is typically filled out by the Homeowners Association (HOA) or the property management company that oversees the inium complex. This step is absolutely vital in getting a mortgage for your inium, as it provides a detailed picture of the propertys financial and legal standing.
The inium 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.
The responsibility for paying the condo questionnaire fee is normally on the Buyer or Lender. When is the Condo Questionnaire ordered during the real estate transaction? The Condo Questionnaire is ordered once the buyer and seller have agreed on terms and signed a purchase agreement.
Depending on the property type (aka: NAICs code), the EQ will be required to be completed either by the lender (with the help of the owner/occupant of the subject property) or by the Environmental Professional (EP).