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
Describe the unique characteristics of a condominium and summarize how condominiums differ from other types of common interest communities.
Explain the importance of warrantability on marketability and how it can impact both buyers and sellers.
Identify which condominium projects are currently warrantable in Florida by VA and FHA.
Identify key “red flags” that may deem the project as non-warrantable for government agencies and GSE’s financing programs.
Classify a condominium as “new” or “established” and list GSE’s requirements for both.
Describe the criteria government agencies and GSE’s use to determine if a condo project is financially stable and viable.
Explain Florida’s new milestone project inspection and SI Reserve Study requirements to ensure condominium projects are structurally safe and sound (Senate Bill 154).
List the master insurance requirements required by the government agencies and GSE’s to protect the condominium from unexpected losses.
Understand the importance of Declarations, Bylaws, and HOA Rules and Regulations.
Explain why conventional financing requirements for condominiums can vary from lender to lender
To CANCEL your class registration, please email class name, date, and location to education@rworld.com or call 561-353-9190.
Class cancellations for “Specialty” courses (Designations/Certifications/license renewal) received within 3 business days of the class start day will be subject to a $20 cancellation fee, which would result in a partial refund of the paid registration fee. If the aforementioned registration was not paid, an invoice for the $20 cancellation fee will be applied.
Members who “No Show” a class without notice of cancellation prior to class will not be eligible for a refund of the registration fee.
By registering for this class/event you hereby consent to the photographing of yourself and the recording of your voice and the use of these photographs and/or recordings singularly or in conjunction with other photographs and/or recordings for advertising, publicity, commercial or other business purposes. You understand that the term “photograph” as used herein encompasses both still photographs and motion picture footage.
