Home Buying in 60626>Question Details

Bob Sanders, Home Buyer in Chicago, IL

Standard Condo Questionnaire used in Chicago?

Asked by Bob Sanders, Chicago, IL Mon Feb 7, 2011

Is there such a thing for Illinois or Chicago, or do they differ for each lender? If there is such a thing, where can I view a sample? I am just interested for the sake of curiosity.

Help the community by answering this question:


There is an 22.1 Disclosure (named after the Illinois Statute regarding Condominiums) that a buyer's attorney usually requests and each mortgage company has its own condo questionnaire that needs to be completed as well on most condo purchases.

Follow the link for a sample of the 22.1 form. http://goo.gl/NBPmK

Eric Marcus
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1 vote Thank Flag Link Mon Feb 7, 2011
Your attorney will (should) ask for the 22.1 disclosure. Your lender will need a condo questionnaire. The condo questionnaire gets you the loan--the 22.1 lets you know if the association is in trouble (or soon will be).

The information in this answer provided by Attorney Ranj Mohip is general information and is not intended as legal advice, nor does the attorney intend to create an attorney-client relationship with any reader by answering this question or otherwise contributing as a member of Trulia.com.
3 votes Thank Flag Link Mon Feb 7, 2011
Hello again Bob,

Condo Questionnaires can differ from lender to lender and from loan program to loan program. However, a lot of the questions are similar. Please feel free to email me at aluett@luettmortgagegroup.com and I will assist you further.

1 vote Thank Flag Link Mon Feb 7, 2011
From your other posts, just so you know, it will be like $200-300 for the HOA to complete the questionnaire. It's a total hose job, and as I mentioned, if you need it quick for a fast closing they charge an expedite fee to turn it around in 48 hours.
0 votes Thank Flag Link Tue Feb 8, 2011
I recommend cash buyers pay for a 22.1 questionnaire even if there is no loan involved. Not mentioned yet, condo HOA's charge for completing the survey, and the lender passes that cost onto you as a buyer. One I dealt with doubled the cost to turn it around in less than one week. It is a money maker to the HOA's. Also they charge huge amount to photo copy rules and regs.
0 votes Thank Flag Link Tue Feb 8, 2011
It's called the 22.1 disclosure and you can google it or I can send one to you.
0 votes Thank Flag Link Mon Feb 7, 2011
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