Condominium/Pud Questionnaire 2013-2025 free printable template

CONDOMINIUM/PUD QUESTIONNAIRE (NOT TO BE USED FOR COOPERATIVES) Management Company is to provide and complete all information below: Applicant Name: Project Name: Unit #: Loan #: Project Address:

How to fill out CondominiumPud Questionnaire

How to fill out Condominium/Pud Questionnaire

1. Gather necessary documents, including the condominium's governing documents and financial statements.
2. Review the questionnaire to understand all required sections.
3. Start with the general information section, providing details about the condominium association, such as its name and contact information.
4. Fill out the financial section, including current budgets and reserve funds.
5. Complete the maintenance and management section, detailing any common area upkeep, responsibilities, and available amenities.
6. Provide information regarding any existing disputes or legal issues related to the condominium.
7. Review and verify all entries for accuracy.
8. Submit the completed questionnaire by the specified deadline.

Who needs Condominium/Pud Questionnaire?

1. Real estate professionals involved in property transactions.
2. Prospective buyers of condominiums or PUDs (Planned Unit Developments).
3. Lenders or financial institutions evaluating mortgage applications.
4. Insurance companies assessing risk for policy underwriting.

People Also Ask about

How much is a condo questionnaire fee in Florida?

ingly, the statute makes it clear that Condominium Associations are entitled to charge for questionnaires up to the following amounts: 1. $150.00; 2. the 'reasonable' cost of photocopying; and 3.

What is a lender questionnaire?

The purpose of a lender questionnaire is to determine how financially sound an association is and what factors may affect a loan that is underwritten by the lender. These include association restrictions, special assessments, and ongoing litigation in which the community association is involved.

Does the lender order the condo questionnaire?

“This form has been sent to you on behalf of an individual seeking mortgage financing to purchase or refinance a unit in this project. The mortgage lender needs this information to determine the eligibility of the project for mortgage financing purposes.

What is condominium questionnaire?

A condo questionnaire is a document lenders require to fund a property designated as a townhouse or condominium that's part of a homeowner's association. The document offers evidence that condominium projects such as Eighty Seven Park Miami comply with the lender's underwriting prerequisites.

Is condo questionnaire needed for underwriting?

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.

Why do lenders require a condo questionnaire?

The lender will have to send a form called a “condo questionnaire” to the condo association or management company. The questionnaire allows the lender to determine if the condo meets its requirements for a loan. If the requirements are met, the lender can in turn consider providing a loan to the condo buyer.

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What is Condominium/Pud Questionnaire?

A Condominium/PUD Questionnaire is a form used to gather information about a condominium or planned unit development (PUD) for the purpose of evaluating the property, typically in a real estate transaction or mortgage application.

Who is required to file Condominium/Pud Questionnaire?

Typically, the homeowner association (HOA) board or the management company of the condominium or PUD is required to fill out and file the Condominium/PUD Questionnaire when requested during a sale or refinancing.

How to fill out Condominium/Pud Questionnaire?

To fill out the Condominium/PUD Questionnaire, one must provide accurate information regarding the property’s management, financials, governance, insurance, and any rules or restrictions that apply to the community.

What is the purpose of Condominium/Pud Questionnaire?

The purpose of the Condominium/PUD Questionnaire is to provide lenders and potential buyers with essential information regarding the financial health, management structure, and legal standing of the condominium or PUD to assess risk in lending.

What information must be reported on Condominium/Pud Questionnaire?

The information that must be reported on the Condominium/PUD Questionnaire typically includes details about the association’s budget, reserve funds, insurance coverage, unit ownership percentages, any pending litigation, rules and regulations, and occupancy rates.