New FHA rules require condominium associations to update their certifications more frequently.
It is very important that your HOA Board or Management Company keeps their certification current. If they allow their certification to lapse, it could drastically affect the owner’s ability to sell their condo unit. That would cause the owner to be unable to offer FHA financing for their home – and in the lower price ranges, FHA financing can account for up to 80% of the buyers in the market.
If you need help determining the status of your HOA Condo Certification before deciding to sell, call Vickie Hall, RE/MAX Masters, at 303-944-1153.