Mcw1161, Home Buyer in Coconut Creek, FL

Regarding 55 condos in Southeast Fl: Do the associations require a minimum income &/or good credit for approval?

Asked by Mcw1161, Coconut Creek, FL Tue Jul 5, 2011

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Mcw1161, with regard to your question about condos in Southeast FL, I am trying to sort out what you are asking?
First of all, if you are purchasing a condo or a group of condos the lender will be the decision maker regarding your income and credit history for approval. As a prospective condo owner, you have three days to review the association documents and agree/accept their convenants. If you agree than you will abide by the existing rules and regulations as presented in these documents as a condo owner. One part of receiving these association documents is to complete an application. The association wants to know basic information. Typically, they are not decision makers accepting or rejecting potential homeowners based upon their credit or income. As a condo owner you will be expected to pay the condo fees on time or they will place a lien on it for non payment.

Secondly, if you will be a renter in an association when you complete the application now they could raise concern if your credit history is not good. income is your business.
1 vote Thank Flag Link Wed Jul 13, 2011
I would think any orginization would
0 votes Thank Flag Link Tue Jul 5, 2011
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