condo associations: Attention Connecticut Condo Associations ... Are You Funding Your Reserves??
- 10/21/10 07:18 PM
Attention Connecticut Condo Associations ... are you funding your reserves? It's time to prepare those budgets for next year. When you do, make sure you're setting aside enough money to handle those inevitable repairs and updates down the road. No one likes being slapped with special assessments every time work needs to be done. With proper planning they shouldn't be necessary. Not only is it fiscally responsible to be funding your reserves - FHA and other mortgage lenders are now REQUIRING it. Buyers wanting to purchase a unit in your communty will have difficulty getting approved for a mortgage if you're … (7 comments)
condo associations: FHFA Proposed Ban on Private Transfer Fees
- 10/14/10 04:20 PM
Your Comments are Needed! The Community Associaitons Institute has asked for help spreading the word about FHFA Proposed Ban on Private Transfer Fees. The following was re-printed with permission .... On August 13, 2010, the Federal Housing Finance Agency (FHFA) issued a proposed regulation to ban the use of deed-based or covenant-based transfer fees. The proposal would prohibit Fannie Mae, Freddie Mac and all federal home loan banks from purchasing mortgages for properties in communities with deed-based transfer fees, e.g. any fee or payment required at time of sale of a property by a deed or covenant restriction. The impact … (6 comments)
condo associations: Connecticut Condo Associations and Political Signage
- 10/14/10 03:07 PM
In a blog post last month Attention Connecticut Condo Associations I asked if Connecticut Condo Associations were in compliance with the new CIOA (Common Interest Ownership Act). In July 2010 sweeping changes were made to the laws that govern the way condominium associations operate. One of the amendments to the Act concerns political signage. Under subsection 47-261b(d) of the Amendment to the Connecticut Common Interest Ownership Act, unit owners must be allowed to display signs endorsing candidates running for public [or Association] office as well as signs regarding ballot questions. While condo associations cannot prevent unit owners from displaying … (0 comments)
2 Bedroom 1 1/2 Bath Townhouse for Sale Castillian Condominium Association 506 King Street Bristol, CT
Tucked away in a cozy corner, this roomy 2 Bedroom 1/2 Bath Townhouse in Bristol CT is neat and clean and meticulously maintained! This home has central air, a full basement and plenty of cabinets and closets ....
Gas range and refridgerator are only one year old.
A Condo with PRIVACY ... there's a slider that leads to … (2 comments)
condo associations: Attention Connecticut Condo Associations
- 09/06/10 03:15 PM
Are you acting in accordance with the new CIOA (Common Interest Ownership Act) law? In July sweeping changes were made to the laws that govern the way condominium associations operate. Are you aware of these changes? For example, the new CIOA law dictates how condominium associations hold their meetings. Did you know you are required to give notice to unit owners of ALL Board meetings and that ALL Board meetings must be open? The new CIOA law affects the way condominium associations initiate foreclosures, adopt budgets and prepare resale certificates. The new CIOA law also governs the way condominium associations … (4 comments)
Attention Connecticut Condo Associations ... are you funding your reserves? It's time to prepare those budgets for next year. When you do, make sure you're setting aside enough money to handle those inevitable repairs and updates down the road. No one likes being slapped with special assessments every time work needs to be done. With proper planning they shouldn't be necessary.
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