Sample Condo Questionnaire
> When you purchase a vertical flat or condo
your lender will require that a "Condo Questionnaire" be completed
during the under writing process. Each lender will have specific
questions and required answers as part of their questionnaire. For
instance, FHA and FNMA will require that the building not exceed 50%
rental units. These forms must be completed by the management company
(ie. APEX Ventures, Ghertner, etc.). Many companies charge a fee to fill
the document out. Ghertner charges $145 UPFRONT. You should take this
fee into consideration when making an offer on a condo. By default it is
a buyer cost because it is required by the lender. Typically this
process is not required for a townhome development or a single family
neighborhood with an association.
