| Q. What are the meanings of the
abbreviations used in the listings?
A.
F: Flood Zone
HOA: Home Owner's Association
(followed by a dollar amount indicating fee)
IE: Insured with escrow
(eligible for FHA insured financing with a repair escrow)
IN: Insured (eligible for FHA
insured financing)
PUD: Planned Unit Development
REVIT: Revitalization area
UI: Uninsured (not eligible
for FHA insured financing)
MU: Multi-unit
GNP: Good Neighbor Program
GL: General List
OND/TND: Officer/Teacher Next
Door Program
LBP: Lead Based Paint
addendum required
IC SYSTEMS CHECK: The
"insurable with conditions" designation will require certain
checks/certifications to be completed by the buyer or lender on the
property prior to it being eligible for FHA insurance. A brief summary
of the conditions to a property's insurable status will accompany the
listing in the notes/comments section. For a list of the specific
checks/certifications that need to be completed, you must refer to the
items called for by the FHA appraiser. Lenders may submit a
written request for a copy of our FHA appraisal, from our Closing Dept.,
once the Sales Contract has been signed by the Seller and the property
is in the closing process. If necessary repairs on Minimum Property
Requirements items are discovered during systems checks or inspections,
the lender should contact our closing department to discuss alternatives
to allow the sale to close, including 203b Repair Escrow, 203k
financing, etc. In these situations, sufficient documentation must be
provided from the lender to support the change of financing.
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