PUD vs. Condo, what’s the difference? » Mortgage Masters Group

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The secondary market (HUD, GSEs, etc.) defines a "PUD" development as a development where membership in a HOA/POA is mandatory and where there is a mandatory fee paid by the property owner to that association. Contrary to popular belief, the zoning district of the property is actually irrelevant.

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Condo & PUD Matrix Reference Sheet Classification & type. iapprove lending Limited Review Condo Questionnaire master insurance policy for the Project. ship of all units evidenced by as single deed of trust or mortgage. New condo projects with units of less than 400 square feet.

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The mortgage payment is simply the cost of the loan as well as any payments into escrow that may be used for annual property taxes or insurance payments. With a condo, the actual property that may be owned is much like an apartment.

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The Condo owner has a shared ownership along with the other unit owners as defined in their “Condominium Plan” which defines the boundaries of their ownership. Usually this consists of “airspace” within the walls of their unit. This type of ownership typically does not include the actual structure.

Usually when there are both, there are mutliple property types in a community, such as condos, villas, etc. The condo fee is usually for the immediate condo area/association and maintenance of the condos and buildings. The HOA fee is for the entire community and maintenance there-of, such as the streets, recreation facilities, etc.

Owners who missed a mortgage payment at 17-year low PERT Florida Real Estate School Florida Property and Real Estate Laws Florida has specific laws when it comes to landlords and tenants, real estate and property. For instance, a landlord in Florida has between 15 to 60 days to return a tenant’s security deposit, depending on whether the tenant disputes the deductions.

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