Posts from May 17th, 2023
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May
17
17
How Are Your Condos?
It has been a little over a year since Fannie Mae guidelines changed regarding condominium structural integrity inspections. If you recall, the guidelines were changed because of the Surfside Condominium collapse in June 2021. Towards the beginning of 2022, Fannie Mae issued the revision to their requirements (we covered this in a Broker Bit about 1 year ago) and the effects of the change has slowly trickled into our market. I am only aware of a few condominiums in the Gulf Shores / Orange Beach area that have actually engaged in the "milestone inspection," but I am certain that it will become more commonplace in the next few year...
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