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Old 05-02-2024, 11:50 PM
 
219 posts, read 264,694 times
Reputation: 200

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We are being told we need to pay a 400 plus fee in order for Condo HOA to respond to credit union/ financial lender estoppel questionnaire questions plus financial lender additional questions


Is this customary? unusual?

And we will have to pay again another fee to apply to be accepted by condo hoa
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Old Yesterday, 05:35 AM
 
17,373 posts, read 22,129,655 times
Reputation: 29781
They are just getting you used to rules and condo fees!
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Old Today, 01:00 AM
 
219 posts, read 264,694 times
Reputation: 200
my mistake. This is not the estoppel questionnaire. I don't even know what to call it buyer's questionnaire. It is a questionnaire required by tg lender and it costs 400 plus for the buyer to pay so that HOA answers financial and legal questions to lender. I never saw anything like this in the north east. I guess it is what it is
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Old Today, 12:19 PM
 
17,373 posts, read 22,129,655 times
Reputation: 29781
Quote:
Originally Posted by Alfiehurt View Post
my mistake. This is not the estoppel questionnaire. I don't even know what to call it buyer's questionnaire. It is a questionnaire required by tg lender and it costs 400 plus for the buyer to pay so that HOA answers financial and legal questions to lender. I never saw anything like this in the north east. I guess it is what it is
That's the banks assurance the HOA isn't broke and big assessments are about to drop on you
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Old Today, 09:03 PM
 
219 posts, read 264,694 times
Reputation: 200
They already passed both the 40 year certification + the 50 years re-certification
There is a current assessment due in June that seller will pay
Monthly HOA dues were just raised late last year. I'm hoping they won't go up anytime soon and that immediate assessments are not expected

Ended up getting lawyer to review condo financials + conducted home inspection also
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