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How much can I charge for a condo questionnaire in Florida?
The association or its authorized agent may charge a reasonable fee to the prospective purchaser, lienholder, or the current unit owner for providing good faith responses to requests for information by or on behalf of a prospective purchaser or lienholder, other than that required by law, if the fee does not exceed
How much can a condo association raise assessments in Florida?
For example, some declarations may impose limits on how much dues can increase each year. That said, there is a stipulation in Florida law that applies to condo associations. Florida Statute 718.112(2)(a) states that if assessments are increased by more than 115%, then a substitute budget can be requested by owners.
Does Fannie Mae require a condo questionnaire?
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.
Why do lenders need a condo questionnaire?
The condo questionnaire is a standard lender requirement for a condo. That will show the delinquency rate and the percentage of owners vs renters. All things the lender needs to consider before funding a loan. This is the buyer/lenders obligation to pay for and obtain.
Who typically pays for the condo questionnaire?
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.
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.
How much is the condo questionnaire fee?
The fee for a condo questionaire is generally about $250-300. The prospective borrower typically pays the fee.
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