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Here it
is...a pdf file for you to download.
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Information
YOU Need to Know as Well as Your Lender: |
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HOMEOWNERS’ ASSOCIATION
QUESTIONNAIRE
PROJECT
NAME:_______________________________________________________________________
ADDRESS:_____________________________________________________________________________
 BORROWER:_______________________________________________________LOAN
NUMBER:_______________
This company is processing
a mortgage loan, which is located in the subject homeowners’
association/project.
Your assistance
is required in answering the questions on this form.
Your immediate response is requested
as the subject loan funding is
pending.
1.
Legal name of
project/homeowners’ association
is:__________________________________________________________________
2.
The project is
a o
Condominium
o
PUD
3.
Was the project
created by the conversion of an existing building?
If yes, please provide the following information:
Age
of subject:____________
Year converted______________
Original use_______________________
4.
Voting control of
the Board of Directors has been turned over from builder/developer
since:______/_______ (month/year).
If
not turned over yet, please provide anticipated date of transfer:
________/_________ (month/year).
5.
The project is o
is not o
a legal phased project. The
project consists of _____total units in _____ legal phases.
6.
Are all units and common areas/facilities complete?
o
Yes o No
7.
Can the project be expanded beyond its current size?
o
Yes o No
If yes, number of add’l
units to be built_______.
8.
Please indicate
the common amenities (other than those in a Master Association):
o
Pool, # of ______
o
Clubhouse, # of _______
o
Tennis Court, # of ______
o
Playground, # of _______
o
Other
_______________________________________________________________________________________
9.
Is there any commercial space designated in the project?
o
Yes o
No Describe_______________________________________.
If yes, is the designated space more than 20% of the total square footage
of the entire project? o
Yes o
No
10. Is
there more than one association for the project, such as a “Master” or
“Umbrella” Association? o
Yes o
No If yes:
Name of Master Assoc.:_________________________ Recreational
Amenities:__________________________________________
Are the amenities complete? o
Yes o
No Date control of
MHOA turned over to unit owners:_____________
11. Is
the subject association involved in any litigation? o
Yes o No If yes,
please provide copies of all litigation information available.
12. How
is title held to units? o
Fee Simple o
Leasehold If leasehold, provide copy of lease(s).
13. Are
there any leased common areas/facilities?
o
Yes o
No
If leasehold, provide copy of lease(s).
14. Do
the unit owners have sole ownership in and the right to the use of the project
facilities? o
Yes o
No
15. Does
the project contain any leased or rented units?
o
Yes o
No If yes, how many?
___________
16. Is
there a rental service for leasing/renting units?
o Yes o
No
17. Does
the homeowners' association provide a cleaning service for the leased/rented
units? o
Yes o No
18. Does
the project have a front check-in desk for the leased/rented units?
o
Yes o No
19. Does
any single investor or entity own more than 10% of the total units in the
project? o
Yes o No
If yes, please identify the investor/entity and indicate the total number
of units owned by each separate investor:
_______________________________________________________________________________
20. Does
an outside, professional management firm manage the project?
o
Yes o No If
yes, please provide contact information:
Name of Company:__________________________________
Contact:__________________________________
Address:___________________________________________Phone:______________
21.
The unit
assessment charges/fees for all units are:
o
Uniform charges of $____________per month
o
Varying charges of $__________ to $___________ per month
22.
How many unit
owners are delinquent more than 30 days in their payment?_______;
The total amount is $____________
23.
The amount
currently held in a segregated reserve account for future repair/replacement of
the project is $_____________
This
amount is adequate for replacement of major components
o
Yes o
No
24. Are
there any special assessments now approved, or have there been any in the past
year? o
Yes o
No
If
yes, please describe nature of assessment, amount and per
unit
charge:__________________________________________________________________
25. Are
there any mortgages or other long-term debts currently outstanding for the
association? o
Yes o
No
If yes, please
describe and state the terms of the
loan:_________________________________________________________________________________
26.
Does
the Declaration or any other constituent documents governing the project contain
a right of refusal (or to provide a substitute
buyer)
in favor of the association or developer to purchase any unit in the project
offered for sale, lease or transfer?
o
Yes
o
No
27.
If
a unit is taken over in foreclosure or deed-in-lieu, is the mortgagee
responsible for delinquent HOA dues? o
Yes o No
If
yes, are they responsible for o
0-6 months or o 7+ months?
28.
Please provide the
following insurance information for the project:
Insurance
Company:____________________________Agent’s
Name:_____________________________Phone:_______________
29.
Please provide the
following sales information:
_______Total
number of completed units in project ________Total number of units conveyed
_______Total
number of units under contract
________Total number of units conveyed/under contract to investors
** PLEASE NOTE
**
Please provide the following documents along with the
completed questionnaire:
1.
Homeowner’s
Association Budget
2.
Management Company
Agreement (if applicable)
3.
Copy of
Declaration page from the Master Insurance Policy that reflects hazard,
liability, fidelity bond and flood insurance if applicable.
THE UNDERSIGNED DOES
HEREBY CERTIFY THAT THE INFORMATION ABOVE IS TRUE AND ACCURATE TO THE BEST OF
THEIR KNOWLEDGE AS OF: ________________________.
(date)
___________________________________________
__________________________________________
Name
of authorized signer
Title
___________________________________________
__________________________________________
Organization
of signer
Signature
Phone
Number
THIS FORM IS TO BE
COMPLETED BY A DIRECTOR OR OFFICER OF THE HOA OR MANAGER OF THE MANAGEMENT
COMPANY ONLY.
9.
Is there any commercial space designated in the project?
o
Yes o
No Describe_______________________________________.
If yes, is the designated space more than 20% of the total square footage
of the entire project? o
Yes o
No
10. Is
there more than one association for the project, such as a “Master” or
“Umbrella” Association? o
Yes o
No If yes:
Name of Master Assoc.:_________________________ Recreational
Amenities:__________________________________________
Are the amenities complete? o
Yes o
No Date control of
MHOA turned over to unit owners:________________
11. Is
the subject association involved in any litigation? o
Yes o No If yes,
please provide copies of all litigation information available.
12. How
is title held to units? o
Fee Simple o
Leasehold If leasehold, provide copy of lease(s).
13. Are
there any leased common areas/facilities?
o
Yes o
No
If leasehold, provide copy of lease(s).
14. Do
the unit owners have sole ownership in and the right to the use of the project
facilities? o
Yes o
No
15. Does
the project contain any leased or rented units?
o
Yes o
No If yes, how many?
___________
16. Is
there a rental service for leasing/renting units?
o Yes o
No
17. Does
the homeowners’association provide a cleaning service for the leased/rented
units? o
Yes o No
18. Does
the project have a front check-in desk for the leased/rented units?
o
Yes o No
19. Does
any single investor or entity own more than 10% of the total units in the
project? o
Yes o No
If yes, please identify the investor/entity and indicate the total number
of units owned by each separate investor:
__________________________________________________________________________________________________________
20. Does
an outside, professional management firm manage the project?
o
Yes o No If
yes, please provide contact information:
Name of Company:____________________________________
Contact:_______________________________________________
Address:_____________________________________________________________________Phone:_________________________
21.
The unit
assessment charges/fees for all units are:
o
Uniform charges of $____________per month
o
Varying charges of $__________ to $___________ per month
22.
How many unit
owners are delinquent more than 30 days in their payment?_______;
The total amount is $_____________
23.
The amount
currently held in a segregated reserve account for future repair/replacement of
the project is $____________________
This
amount is adequate for replacement of major components
o
Yes o
No
24. Are
there any special assessments now approved, or have there been any in the past
year? o
Yes o
No If
yes, please describe
nature of assessment, amount and per unit
charge:__________________________________________________________________
25. Are
there any mortgages or other long-term debts currently outstanding for the
association? o
Yes o
No If yes, please
describe
and state the terms of the
loan:_________________________________________________________________________________
26.
Does
the Declaration or any other constituent documents governing the project contain
a right of refusal (or to provide a substitute
buyer)
in favor of the association or developer to purchase any unit in the project
offered for sale, lease or transfer?
o
Yes
o
No
27.
If
a unit is taken over in foreclosure or deed-in-lieu, is the mortgagee
responsible for delinquent HOA dues? o
Yes o No
If
yes, are they responsible for o
0-6 months or o 7+ months?
28.
Please provide the
following insurance information for the project:
Insurance
Company:____________________________Agent’s
Name:_____________________________Phone:_______________
29.
Please provide the
following sales information:
_______Total
number of completed units in project ________Total number of units conveyed
_______Total
number of units under contract
________Total number of units conveyed/under contract to investors
** PLEASE NOTE
**
Please provide the following documents along with the
completed questionnaire:
1.
Homeowner’s
Association Budget
2.
Management Company
Agreement (if applicable)
3.
Copy of
Declaration page from the Master Insurance Policy that reflects hazard,
liability, fidelity bond and flood insurance if applicable.
THE UNDERSIGNED DOES
HEREBY CERTIFY THAT THE INFORMATION ABOVE IS TRUE AND ACCURATE TO THE BEST OF
THEIR KNOWLEDGE AS OF: ________________________.
(date)
___________________________________________
__________________________________________
Name
of authorized signer
Title
___________________________________________
__________________________________________
Organization
of signer
Signature
Phone
Number
THIS FORM IS TO BE
COMPLETED BY A DIRECTOR OR OFFICER OF THE HOA OR MANAGER OF THE MANAGEMENT
COMPANY ONLY.
Homeowners Association’s Certification
12/1/98
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