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It's possible that potential unit buyers will be more easily qualified if the association achieves this certification.

The certification establishes standards that the association must meet including:

  • Currency in paying assessments
  • Low tenant to resident owner ratio
  • Possibly reserve contribution percentages

The apparent goal of the certification guidelines is to leverage stable, resident owner communities and make them attractive to lenders.

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Q: Is there any advantage to a condo bldg getting FHA certification?
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