I am in an uproar  !!! Out local area is now going from $ 100.00 to up to $350.00 for condo docs. ! They are also going to beable to put them on CDS so there is not even the expense of the paper these days !! Im sure Im going to have a few sellers upset about this change ! Goes in to effect July 1 I beleive .

 At least on good thing is you can recopy the CD to give to the buyer and keep the original if the buyer backs out

 

Tell me what you think

 

Alison Creamer

Remax Allegiance

Virginia Beach, Va

www.coastalpads.com

 

Alison Creamer BzibeeAlison Creamer, Realtor, ABR, CDPE

REMAX First 757.217.0928

5511 Princess Ann Rd Virginia Beach Va , 23463

Direct 757.652.8880 

Licensed to sell Real Estate in Virginia 

Bzibee Media

 

2 Comments on Paying out the noise for Condo Docs

JUN
28
2007
201,151 Points 3 Featured Posts Outside Blog

Alison...I just went through something similar on a transaction...the seller (my client) gave me total grief over it and I ended up losing an otherwise great client/friend. 

The associations around here can charge anywhere from 0 to several hundred $$$ just for the docs. (the one I live in charges NOTHING).  Then at closing these companies charge an additional several hundred $$$ for administrative fees.  I always tell my sellers to expect $500 to $600 and be happy if it's less. I put this on the estimated net sheet when I take the listings (which they sign) with a plus and minus symbol behind the $500-$600, so the seller knows what to expect. 

On this particular deal we found out after an offer came in that there were TWO associations involved. Seller paid 2 association fees but had no clue they were different companies.  This is not uncommon in LV, but is not everywhere in LV either.  Well, both associations had their own set of HOA docs...so seller got socked twice.  Not only that but both associations charged a $200 administration fee at closing.  One of those associations used an online company www.condocerts.com where the seller or I went to download the docs (so there were no paper docs unless we printed them)...and that company charged an additional $50 for the use of condocerts.com!  My seller ended up calling the Dept of RE ombudsman, several TV stations, our state senator.  She was ticked big time because it cost her close to $1000 to 'get out of the association'...it's highway robbery in my opinion.   She had no one else to take it out on so it was my fault!  I hated losing a client/friendship over something like this...but that's her issue.

4:26pm • #1
Oh my I would have Flipped my self !!! Its not that bad here but we too have a few area here that have 2 associataion as well. Im thinking it is going to get shifted to the buyer on my offers !!!
Alison Creamer
4:36pm • #2

Leave a response…



(optional)
What does the graphic say?
 
Alison_5x7_7711c Rainmaker_large

Alison Creamer, Realtor, ABR, CDPE Virginia Beach , Virginia

Virginia Beach, VA

More about me…

RE/Max First

Address: 5511 Princess Ann Rd , Suite 101, Virginia Beach , Va, 23456

Office Phone: (757) 217-0927

Cell Phone: (757) 652-8880

Email Me

<!-- Facebook Badge START -->Alison-Evonne Keane-Creamer | Create Your Badge
Bzibee<!-- Facebook Badge END -->


Links

Archives

RSS 2.0 Feed for this blog

Find VA real estate agents and Virginia Beach real estate on ActiveRain.