Homeowners' Association Questionnaire Template printable pdf download

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.

Legal name of project/homeowners’ association is:__________________________________________________________________

! Condominium

! PUD

The project is a

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_______________________

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).

The project is ! is not ! a legal phased project. The project consists of _____total units in _____ legal phases.

! Yes

! No

Are all units and common areas/facilities complete?

! Yes

! No If yes, number of add’l units to be built_______.

Can the project be expanded beyond its current size?

Please indicate the common amenities (other than those in a Master Association):

! Pool, # of ______

! Clubhouse, # of _______

! Tennis Court, # of ______

! Playground, # of _______

! Other _______________________________________________________________________________________

Is there any commercial space designated in the project? ! Yes ! No Describe_______________________________________.

If yes, is the designated space more than 20% of the total square footage of the entire project? ! Yes ! No

10. Is there more than one association for the project, such as a “Master” or “Umbrella” Association? ! Yes ! No If yes:

Name of Master Assoc.:_________________________ Recreational Amenities:__________________________________________

Are the amenities complete? ! Yes ! No Date control of MHOA turned over to unit owners:________________

11. Is the subject association involved in any litigation? ! Yes ! No If yes, please provide copies of all litigation information available.

12. How is title held to units? ! Fee Simple ! Leasehold

If leasehold, provide copy of lease(s).

13. Are there any leased common areas/facilities? ! Yes ! 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? ! Yes ! No

15. Does the project contain any leased or rented units? ! Yes ! No If yes, how many? ___________

16. Is there a rental service for leasing/renting units? ! Yes ! No

17. Does the homeowners’association provide a cleaning service for the leased/rented units? ! Yes ! No

18. Does the project have a front check-in desk for the leased/rented units? ! Yes ! No

19. Does any single investor or entity own more than 10% of the total units in the project? ! Yes ! 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? ! Yes ! No If yes, please provide contact information:

Name of Company:____________________________________ Contact:_______________________________________________

Address:_____________________________________________________________________Phone:_________________________

21. The unit assessment charges/fees for all units are:

! Uniform charges of $____________per month

! 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 ! Yes ! No

24. Are there any special assessments now approved, or have there been any in the past year? ! Yes ! 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? ! Yes ! 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? ! Yes ! No

27. If a unit is taken over in foreclosure or deed-in-lieu, is the mortgagee responsible for delinquent HOA dues? ! Yes ! No

If yes, are they responsible for ! 0-6 months or ! 7+ months?

28. Please provide the following insurance information for the project:

Insurance Company:____________________________Agent’s Name:_____________________________Phone:_______________

HOA_cert.doc rev: 12/00

Homeowners' Association Questionnaire Template

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