Jo Ann Meyer Stratton
Elite Member
- Joined
- Jan 16, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Arizona
Depending on the legal documents for a subject property there can be several scenarios.
Condo ownership not in a PUD--mandatory condo home owners association fees only.
Condo ownership in a PUD--both mandatory condo home owners association and mandatory PUD home owners association fees. Might be two separate or only one monthly/annual bills.
No condo ownership in the legal documents but there is a mandatory PUD HOA fee. Top portion of the form is checked PUD.
HOA fees create a lien against the property--that is what the lender/client wants to know about.
Condo ownership not in a PUD--mandatory condo home owners association fees only.
Condo ownership in a PUD--both mandatory condo home owners association and mandatory PUD home owners association fees. Might be two separate or only one monthly/annual bills.
No condo ownership in the legal documents but there is a mandatory PUD HOA fee. Top portion of the form is checked PUD.
HOA fees create a lien against the property--that is what the lender/client wants to know about.