Due to the Surfside tragedy, a new business model is emerging: Condo safety reports using the same type of system as Carfax reports for used-car buyers.
Florida lawmakers failed to pass a safety inspection bill for aging condos around the state. Meanwhile, Fannie Mae and Freddie Mac have tightened rules ensuring buildings are stable before granting federally backed mortgages. Already, it appears that loan applications are being denied because condo associations are reluctant to comply.
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