Cohousing-L Mailing List: Re: FHA Condo-Approval

[Sharon Villines (sharon]

On 3 Feb 2012, at 10:12 AM, Tina Thompson wrote:

> I'm wondering if any co-housing communities have gone through the FHA
> condo-approval process.  

We are just now going through it. We hired a company in Seattle that 
specializes in getting approvals for condos, Home Advantage Group, for $500. 
Our Admin Team asked around and this was considered a reasonable fee, 
particularly since we don't pay if we aren't approved. 

They do all the paper work and check to see that we meet the requirements — we 
needed to raise our insurance policy to meet FHA standards, for example. It 
takes months, probably because FHA is overwhelmed from the results of their own 
regulations.

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org