Article
How to Answer a Condo or Lender Questionnaire
Published 2026-07-13 · Updated 2026-07-13 · BLDGDeck Editorial
Direct answer: The right way to answer a condo, co-op, HOA, lender, or insurance questionnaire is to work from source documents first — budgets, audits, insurance declarations, governing documents, meeting minutes — and cite where each answer came from. Guessing invites downstream problems for the signer.
1. Gather supporting records first
Before you start drafting answers, collect the documents the questionnaire will reference — the current-year operating budget, most recent audited financial statements, insurance declarations, governing documents (bylaws, declaration, offering plan), meeting minutes, engineering or reserve studies, and any recent violation notices.
2. Read the whole questionnaire before answering
Many questions reference the same underlying facts. Reading the whole form first prevents inconsistent answers between sections.
3. Do not guess
If you don't have a source document supporting an answer, mark the item as needing confirmation rather than guessing. Questionnaires are relied on by lenders, insurers, buyers, and boards — an unsupported answer creates real downstream risk.
4. Cite the source for every substantive answer
Note the document name, page, and section so a reviewer can verify quickly. This also protects the signer of the completed questionnaire.
5. Mark missing information
If a question requires a record you don't have, flag it clearly. Ask the responsible party (managing agent, treasurer, insurance broker, engineer) for the specific record rather than a general answer.
6. Resolve conflicts explicitly
When two documents disagree — for example, an audit and a current budget — note the conflict, cite both sources, and use the most authoritative record. Silent resolution creates ambiguity.
7. Review certifications carefully
Read the certification block at the end of the questionnaire before signing. Signing typically attests that answers are true and complete to the best of the signer's knowledge.
8. Obtain professional confirmation where needed
Some questions genuinely require input from counsel, an accountant, an insurance broker, or an engineer. Route those questions to the right professional rather than answering yourself.
Fictional example
A lender questionnaire asks for the association's reserve balance. The current-year budget shows $412,000; the most recent audit shows $398,000 as of December 31. The right answer cites both sources, notes the timing difference, and reports the audited figure with the budgeted figure as an update.
This article is for general informational purposes only. It is not legal, accounting, insurance, or professional advice. BLDGDeck does not certify, submit, or guarantee acceptance of questionnaire answers by any lender, insurer, board, or association.