CONDOMINIUM PROJECT PROCESSING

Declarant/Builder in control of Homeowners Association.  Draft copies are recommended  for Declaration, Bylaws & Articles in case changes are required.  Please make sure documents are legible.  Processing time may be 60 days.  Please allow 60 days before checking on project. 

2 Copies of each of the following:

1.  Cover letter explaining the concept/plans of the project;

2.  Declaration.  Required to be recorded for full approval. 

3.  Bylaws.  Will be required to be certified by secretary of HOA for full approval. 

4.  Articles of Incorporation.  Will be required to be filed with Secretary of State for full approval.

5.  Information Brochure (Public Offering Statement).  Provides information about association rights & obligation of lot owners.  Please see Loan Guaranty Letter No. 97-1, page 11 for explanation.

6.  Preliminary of final plat & air lot survey.  Will be required to be recorded for full approval.2 legible full size plats.  Do not send cut & paste maps.

7.  Colorado Multiunit Checklist.  This checklist is filled out by an attorney knowledgeable in real estate law.  Montana & Wyoming are excluded.

If you have any questions on items 1-7, we recommend that you contact a real estate attorney.

1 copy of each of the following:

8.   Management agreement (if applicable).  If there is not a management agreement, please tell us in cover letter.

9.    Proposed budget for phase 1 and when project is complete.  2 different budgets are required.

10.   Phase map - This must show the overall development plan that contain (I)  general indication of the size and location of phases (ii) the approximate size and location of common areas proposed for each phase (iii) the general nature of the proposed common area, legal description (metes & Bounds) must match each phase.

11.   Sample general warranty deed conveying unit to homeowner.

12.   Certification from builder or declarant stating 70% of units have been sold to someone other than declarant or builder.  VA may hold this as an item to be completed, but will be required for full approval.

13.   Final municipal approval stating common area is complete. VA may hold this as an item to be completed, but will be required for full approval.  Contact Loan Processing at (303) 914-5626 for further information on escrows or refer to your lenders handbook.

14.   EEO Certification (26-421). 

15.   Location map showing surrounding area.

16.   State Historical Society Letter.  Contact Colorado Historical Society at (303) 866-3682, 1300 Broadway, Denver, CO for more information.

17.   Attorney Certification.  See Loan Guaranty Letter 80-54.

Construction & Valuation 
(303) 914-5638