Homeowner'S Association Certification Letter
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1Homeowner’s Association Certification Letter
Name of Borrower:
_________________________
Name of Project:
Property Address:
Homeowner Association
Master Insurance Carrier
Name:
Name:
Address:
Address:
Contact/Phone:
Contact/Phone:
1. What year was the project built:
2. Total # of units in project:
3. Are all units, common areas and recreational facilities complete?
4. Is the project subject to additional phasing or annexation?
5. Date the control of the HOA passed to unit owners:
6. Total # of units which have been sold and closed?
7. Total # of units unsold:
8. Total # of units which are owner-occupied:
9. Total # of units which are second homes:
10. Total # of units which are rentals:
11. Total # of units owned by developer:
12. Other than the developer, does any one entity own more than 2 units?
If yes, how many units does the entity own?
13. Is the project a purposely built condominium?
14. Is the project an apartment conversion?
If yes what was the conversion date (month/year)?
15. Are all units fee simple?
16. Do the unit owners have sole ownership rights to the use of the project’s
facilities, common elements and limited common elements?
17. Are any of the common areas or recreational facilities leased?
18. What are the monthly HOA dues?
19. Total # of unit owners that are 30 days or more delinquent in HOA dues?
20. Is there pending and/or settled litigation against the HOA or the developer?
21. Does the HOA, or a Management Co. manage the property?
22. Is there more than one Assoc. for the project, such as a Master Assoc.?
If yes, provide legal names of all associations.
23. Have there been any special assessments in the past year?
If yes, please describe the nature of the assessment and cost per unit:
24. Are there any scheduled special assessments in the future:
If yes, please describe the nature of the assessment and cost per unit:
25. Does HOA waive its right of first refusal to the sale, lease or transfer of a
unit in case of foreclosure of deed-in-lieu?
26. Is the unit subject to any resale restrictions based on age?
27. Is the unit subject to any resale restrictions based on zoning?
28. Is the unit subject to any timeshare arrangements?
29. Are there any manufactured housing units located in project?
30. How much of the total project space is devoted to commercial usage?
31. What is the amount of the general liability insurance?
32. What is the amount of the hazard insurance?
33. What is the amount of fidelity bond/employer dishonesty insurance?
I certify that the above information is true and correct:
Print Name:
Title:
Signature:
Date:
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Parent category: Letters