HOA rip-off!
We were made aware that some HOA's are requesting up front payments for transfer fees and before providing info such as CCR's to title company. That would mean someone, whoever is checked in contract, would have to pay these fees before COE. If COE does not occur then that person is out the up front $$$. Who is your client? Who are you looking out for?
This is done because of the short sale situation. ie.Short sale does not close so HOA does not get paid. There are stories of these fees being as much as $1,000 because of HOA having provided info 4 or 5 times before short sale finally closes.
Trouble getting BIG BANKS to loan money to qualified buyers? Encourage your buyers to use Mortgage Broker with in house underwriting?
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