Condo Financing Essentials "F" (In-Person)

Description

Condo Financing Essentials 

Condominium financing can present unique challenges for both buyers and real estate professionals. Condo Financing Essentials provides a practical foundation for understanding the financing considerations that can affect condominium transactions and helps real estate professionals identify potential issues early in the process. 

The course examines different types of condominiums and clarifies the ownership and maintenance responsibilities of individual unit owners versus the condominium association. Participants will explore the importance of replacement reserve funding, reserve studies, capital planning, and special assessments, including how these factors may affect financing. 

The course also covers warrantable and non-warrantable condominium projects, including general requirements associated with conventional, FHA, and VA financing, as well as considerations involving non-warrantable projects and condotels. Through interactive, real-world case studies, participants will learn to recognize financing risks, identify insurance and HOA documentation concerns, and collaborate more effectively with lenders and homeowners associations. 

Learning Outcomes: Participants will be able to recognize common condominium financing challenges, understand key project-level financing considerations, identify potential risks earlier in the transaction, and apply practical strategies to help clients navigate the condominium lending process.

Maryland Real Estate Commission CE: Category F | 1.5 Hours

Instructor: Cheryl Young, Southern Trust Mortgage

Lunch provided immediately following the class.