FHA and the GSEs have different rules for the sale of a condominium versus a stand-alone single-family house. Distribute to all unit owners a detailed proposed annual price range, setting forth with particularity all anticipated common expenses by class in addition to all anticipated assessments and other revenue. Anticipated by the unit owner’s association inside the present or succeeding two fiscal years. An association subject to this Act that consists of a hundred or extra items shall use generally accepted accounting ideas in fulfilling any accounting obligations beneath this Act.
If greater than one of many a number of house … Read More...