Condominium Associations can Purchase Property (FL)

Written by Florida Condotel Mortrgage on September 7, 2020. Posted in Florida Condotel Mortgage.

Q: The board of directors of my condominium association have been discussing purchasing an adjacent parcel of land. There is a question in the community as to whether this is allowed. Can a condominium association purchase additional property? Read the Q&A…………………………..

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Rates posted assumes 25% down payment, and an ARM and fixed rate first mortgage on a Florida condotel, secondary residence. Additional required amounts such as taxes, insurance, home owner association dues, assessments, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions.

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