Financing A Condo in Florida- Is the Project Warrantable? (2CE)

Description

This course is designed to equip you with the knowledge and skills necessary to succeed in the ever-changing world of condominium real estate transactions. In a state with approximately 1.5 million condo units, understanding the intricate art of financing condos isn’t just a strategic choice- it’s the clear path to reaching incredible success in becoming a condo expert and trusted advisor. This can result in more closed transactions and future referrals. Gaining a deep understanding of the complex landscape of condo financing can help you open new opportunities for sales and expand your base of clients.

Objectives: After taking this class students will be able to: 

1.Describe the unique characteristics of a condominium and summarize how condominiums differ from other types of common interest communities.

 2.Explain the importance of warrantability on marketability and how it can impact both buyers and sellers. 

3.Identify which condominium projects are currently warrantable in Florida by VA and FHA. 

4.Identify key “red flags” that may deem the project as non- warrantable for government agencies and GSE’s financing programs. 

5.Classify a condominium as “new” or “established” and list GSE’s requirements for both. 

6.Describe the criteria government agencies and GSE’s use to determine if a condo project is financially stable and viable.

 7.Explain Florida’s new milestone project inspection and SI Reserve Study requirements to ensure condominium projects are structurally safe and sound (Senate Bill 154).

 8.List the master insurance requirements required by the government agencies and GSE’s to protect the condominium from unexpected losses. 

9.Understand the importance of Declarations, Bylaws, and HOA Rules and Regulations. 10.Explain why conventional financing requirements for condominiums can vary from lender to lender

Instructor: Dawn Pemberton

CANCELATION POLICY: By registering for this class or event, you agree that if you do not show up or provide 24 hours' notice, I will be charged a $15.00 no show fee.

ATTENDANCE POLICY

• FREC requires a licensee to attend 90% of each of the classroom hours. Physical attendance is required for the duration of class.
• Please allow adequate commute time. This policy is strictly enforced.
• You are required to sign-in/sign-out to be recorded as having attended and to earn CE credit.
• No exceptions will be made.
  

CLASSROOM ETIQUETTE 

• ALL MATERIALS ARE COPYRIGHTED AND MAY NOT BE REPRODUCED IN ANY WAY. VIOLATORS WILL HAVE TO LEAVE CLASS AND WILL NOT RECEIVE CREDIT OR A REFUND.
• Electronic note-taking is permitted on silent devices ONLY.
• Cell phone use is permitted ONLY outside of classroom during designated breaks. Please be sure your cell phone is silenced and put away.