Scenario
The borrower qualifies, but the condo project may create eligibility risk through occupancy, budget, litigation, insurance, or questionnaire timing.
Season 1 curriculum
Paid trackGuideline Decoder11 min · Janice
Lesson 3 · Guideline decoder
Condo File Pretending to Be Simple
Spot project risk before a clean borrower tricks everyone into relaxing.
Learner Outcome
The member can separate borrower eligibility from project eligibility.
Skool summary
A clean borrower does not make a clean condo. Learn the project questions to ask before the offer becomes emotional.
1
Two approvals
Condo files have borrower eligibility, unit eligibility, and project eligibility. The borrower can be strong while the project is weak. If you only talk about borrower strength, you may set the Realtor up for a surprise later.
2
Early project questions
Get the project name, HOA contact, questionnaire cost and timeline, review type, project status, occupancy mix, commercial space, litigation, deferred maintenance, special assessments, budget/reserves, insurance, delinquency, and any known investor or single-entity concentration issues. The exact list depends on program and review type, but waiting is the expensive mistake.
3
Realtor-safe language
Say: 'The buyer may be fine. We still need the project to meet the applicable review requirements. I want to check that before everyone treats the approval like it is only about income and credit.'
4
Questionnaire distinction
A missing questionnaire is a timing problem. A questionnaire that reveals a project issue is an eligibility or investor-appetite problem. Teach partners that those are not the same delay.
Homework
- Review a mock condo questionnaire with three yellow flags and one hard stop.
- Draft a buyer-agent email, listing-agent email, AE escalation, and internal risk summary.