Form 25 - Wells Fargo Prior Approval

ADVERTISEMENT

Wells Fargo Prior Approval
Homeowners Association Certification Review
Form 25
Date
Loan #
Wells Fargo Contact Name & Phone
Project Name and Address
1.
Are all common elements and/or facilities substantially complete?
Yes
No
If no, are all common elements and/or recreational facilities associated with the subject phase complete?
Yes
No
2.
Is the project subject to additional phasing and add-ons?
Yes
No
If yes, number of additional phases and units to be built:
Phases:
Units:
3.
Is the project a conversion of an existing building?
Yes
No
If yes, what was original building purpose? _
_________________________________________________________________
If yes, was conversion a full gut-rehabilitation?
Yes
No
4.
Date control of the HOA transferred from the developer to unit owners.
Project pre-sale and owner occupancy questions are based on
declared units and not proposed units.
Entire Project
Subject Phase
5.
Date when first units made available for sale
Note: N/A, unknown and value ranges/estimates are not acceptable
6.
Total number of units
7.
Number of residential units sold and closed:
8.
Number of units under contract:
9.
A. Number of units owned as primary residences
B. Number of units owned as second/vacation homes
C. Number of units owned as investment properties (not occupied for
personal use)
D. Number of rented units owned by the developer/association
10. Number of sales in last 90 days:
11. Does any one person or entity own more than one unit?
Yes
No
If yes, list the entity and how many each own: ______________________
30 days past due
60 days past due
90+ days past due
12. How many units are over 30 days delinquent?
13. Are there any pending or outstanding special assessments?
Yes
No
If yes, explain:
14. Is the HOA involved in any litigation, mediation, arbitration or other dispute resolution process?
Yes
No
If yes, explain and provide and documentation:
15. To the best of your knowledge, are there any adverse environmental factors affecting the project as a whole or as
individual units?
Yes
No
16. Does the owner's association have a reserve fund separate from the operating account?
Yes
No
If yes, is it adequate to pay for deferred maintenance?
Yes
No
Current amount in fund
17. Total income budget for this year:
Total Reserves budgeted for the year
(Continued on next page)
Last Updated: March 2013

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Business
Go
Page of 2