What does Estoppel mean?

It means that the ownership of real property is stopping with the Seller (Owner) and will begin again with the Purchaser (Borrower).  All debt owed to the association by the Seller (Owner) will appear on this form, payoff of such debt is expected prior to or at the time of closing.

What does this mean to the Purchaser or Seller?

In order to purchase real property, an Estoppel request must be made by the purchaser's Title Company.  The information contained in an Estoppel is used for compiling the costs for closing purposes. These costs and fees are found on the HUD Statement or Settlement Statement that you will receive at closing.

An Estoppel will let the Title Company know if the maintenance fees are current, if there are any special assessments due and/or pending, the name of the Association's Insurance agent, pending litigation, violations against the subject property, etc.  Responsibility of payment for Estoppel is of the Seller (Owner).

What is a PUD Certificate or Homeowner's Certificate (Condo Questionnaire)?

When the applicant/purchaser is purchasing the property using a mortgage, a PUD Certificate or Homeowners Certificate (Condo Questionnaire)�is also required.  This is a requirement of the lender.  The lender will request this information to find out if the Association that you are purchasing in meets the criteria of the lender.  Some of the information that they require will be financial stability of the overall Association, total number of units, owner- occupied units vs. rentals, pending litigation, etc.  Responsibility of payment for the Certificate is of the Purchaser (Borrower).

What are the costs of Estoppel and/or PUD Certificate or Homeowner's Certificate (Condo Questionnaire)?

Franmar Management Services, Inc. charges a fee to certify the information that we are submitting to the Title Company and/or Lender is true and accurate to the best of our abilities.  The fee for each is:

Estoppel Request: $250.00

Condo Questionnaire: $150.00

Checks are to be made payable to:  Franmar Management Services, Inc.

The request for an Estoppel must include the following information:

1. Requestor's Name, Number, E-mail Address and Law Firm.
2. Closing Attorney's Name, Number, Fax, and E-mail address.
3. Name of Association and Address.
4. Seller's Name, Number, Address and E-mail address.
5. Closing Date
6. Copy of the Settlement Statement or HUD.

Faxed requests will not be accepted.

Please allow 10 business days to complete request.  The request will be completed after the form and fee are received at the address below.

Franmar Management Services, Inc
9999 N.E. 2nd Avenue
Suite 200
Miami Shores, FL  33138