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Get crucial information on condo projects with our comprehensive Certified Limited Condo Questionnaire. Perfect for buyers and investors in 2023.
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What is certified limited condo questionnaire?
A certified limited condo questionnaire is a document used primarily in real estate transactions that provides information about a condominium's financial and structural standing, typically required by lenders during the mortgage approval process.
Who is required to file certified limited condo questionnaire?
The homeowners association (HOA) or property management company of the condominium is usually required to file the certified limited condo questionnaire.
How to fill out certified limited condo questionnaire?
To fill out a certified limited condo questionnaire, the HOA or property manager must provide accurate information regarding the condo association's finances, insurance, litigation status, and any special assessments, ensuring that all sections of the form are completed thoroughly.
What is the purpose of certified limited condo questionnaire?
The purpose of the certified limited condo questionnaire is to provide potential buyers and lenders with important information regarding the financial health and management of the condominium project, thus aiding in informed decision-making.
What information must be reported on certified limited condo questionnaire?
The certified limited condo questionnaire must report information on the association's budget, reserve funds, insurance coverage, number of units rented, any pending litigation, and whether any special assessments are anticipated.
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