Page 16 - Boca ViewPointe - July '22

Page 16, Viewpointe July 2022

Surfside Collapse Leads To Additional Scrutiny & Due Diligence

From Mortgage Companies To Condominium Associations

By Daniel Weber, Community Association Law – questionnaires, and due to the breadth and scope of the of questions require a nuanced response. A response could
Associate, Sachs Sax Caplan, P.L. questions, are unsure on how to answer. For example, the impose significant liability to the association if answered
following examples may be found on questionnaires: incorrectly. §718.116(8), Florida Statutes contains the
As we pointed out in an earlier column, one of the Are there any conditions, project wide, regarding questions that an association is required to respond to
direct side effects of the tragic Champlain South Tower deferred maintenance (within the past 5 years) which for an estoppel certificate. These questions are more in
collapse was the additional scrutiny and due diligence that may negatively impact the safety, structural soundness, the nature of, how much are the assessments, and how
mortgage companies were going to apply before issuing habitability, or functional use of any individual unit or often are they paid, or is there a capital contribution fee.
mortgages in condominiums. At that time, Federal National the project as a whole? Consequently, the traditional estoppel questions are much
Mortgage Association (“Fannie Mae”) issued Lender Letter If a unit is taken over in foreclosure, what is the more in the purview of what management or the Board
(LL-2021-14), titled Temporary Requirements for Condo maximum number of months of assessments for which of Directors may respond to. The statute also allows the
and Co-op Projects, which imposed new “temporary” the lender is responsible? association to charge a fee for the response to an estoppel
rules and restrictions pertaining to Fannie Mae’s purchase What amount is currently in reserves? certificate. However, the new lender questionnaires
of loans from primary lenders on the secondary market. Is it anticipated that the project will have code go far beyond the questions in §718.116, and there is
These new requirements went into effect on January 1, enforcement violations in the future? And not necessarily, an entitlement to a fee for a response.
2022. What has resulted since is the requirement that any Are there any planned special assessments in the While we understand associations are motivated to be
mortgage servicer who wishes to write a mortgage that future? accommodating and not hinder its owners from being
may eventually be sold on the secondary market must While we understand that the scope of these questions able to sell their units, associations need to be cautious
create robust questionnaires for associations to answer is based upon determining whether the structure of the in responding to any in-depth questionnaire post-Surfside
before a mortgage will be issued. The problem now building is sound, and that the association is in good and should seek legal advice if presented with such types
is that condominium associations are receiving these financial footing, the reality is that many of these types of questions. 
Move Over LAW (FS 316.126)

By Elyse Weintraub Brown, emergency? The Answer is …you must yield the right of way. On a two-lane roadway…Where there is NO lane of
Community Education When it is safe to do so, move over as close as reasonable travel in the same direction to merge over to, you are
Specialist, Palm Beach to the closest edge of the curb of the roadway, clear of any REQUIRED to slow down to a speed that is 20 miles per
County Fire Rescue intersection and then stop. When this happens on highways hour less than the posted speed limit. If the speed limit
(561) 616-7051 or and interstates, rather than stop, slow down and then safely is 20 miles per hour or less, you must slow down to five
ewbrown@pbcgov.org move over so that the emergency vehicle can pass. miles per hour.
Are you unsure about what you are supposed to do when In the State of Florida, drivers must also move over for
This message is you are driving on a roadway with multiple lanes, and you sanitation vehicles and utility service vehicles performing
brought to you by your see a fire truck or rescue truck working an emergency ON tasks related to their services, and wreckers displaying
friendly Firefighters from THE SIDE OF THE ROAD? The Answer is….When it amber rotating or flashing lights performing a recovery
Palm Beach County Fire is safe to do, merge away from a vehicle working on the or loading on the roadside.
Rescue…. side of the roadway to provide an empty travel lane for Violating the Move Over Law can result in a fine and
Every day firefighters and other the emergency worker. If you are not able to safely move points on your license; and worse, because it puts rescuers,
emergency responders drive over, you must slow down to a speed of 20 MPH below civilians, and other motorists at risk of serious injury and
to emergencies. What’s more, the posted speed limit unless directed otherwise by a law even death. For everyone’s safety, share the Move Over
oftentimes the emergency they enforcement officer. Law with others. Help us…help You! 
are driving to is actually in the
roadway. Although they are helping
others and rendering aid, they are DEMAND FOR HOMES IN BOCA POINTE REMAINS STRONG!
also at risk of being injured and killed
on our roadways by motorists. Help protect them…
because if they can’t help you in your time of need… I am working with buyers and renters who are motivated, serious, qualified, and
who will? flexible!
Learn the Move Over LAW (FS 316.126)
Are you unsure about what you are supposed to do when
you are driving on a local roadway, and you see DRIVING 4 Buyers are looking for one-story single-family homes with three
BEHIND YOU a fire truck or other emergency vehicle bedrooms or two + a den in Boca Pointe. One of the buyers prefers no
with lights flashing and sirens wailing on the way to an
pool.
Seeking Viewpointe 4 A buyer is looking for a one-story home or a home with a primary

bedroom on the first floor, specifically in LA CORNICHE.
Writers 4 Several renters are hoping to find homes or condos that are available

By Lisa Cammaleri furnished for the season and others want to rent unfurnished property
annually.

Do you have an interesting story to share?
The Viewpointe is always looking for new and talented IF YOU ARE CONSIDERING SELLING OR RENTING,
writers to submit articles on current events, the social scene, PLEASE CALL ME TODAY!
restaurants, movies, family matters, village life, etc…
We welcome news from Village Boards about activities
or events in their community, which would be of interest to Sheryl Sagel,
Boca Pointe residents.
®
®
Please submit your article to lisa.cammaleri@fsresidential. ABR SFR BPOR RENE SRS
com for review and consideration.  Broker Associate
COLDWELL BANKER REALTY
Boca Raton Resort & Beaches
1200 N. Federal Highway, Suite 111
Boca Raton, FL 33432
Cell - (561) 400-4845
Search the MLS - sherylsagel.com
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Call me today for information about Coldwell Banker’s enhanced marketing
program for sellers! This program, combined with my dedication and
experience working with buyers and sellers in Boca Pointe, will enable you to
get the most exposure and best price for your home!

The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include
approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Affiliated real estate agents are
independent contractor sales associates not employees. ©2022 Coldwell Banker® Realty. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of
Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and
franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.