bank: HOA Transfer Fees/Disclosure fees- a small rant!
- 12/16/09 06:38 AM
How many of us have, in the last year, closed a deal here in the Greater Phoenix Market? If you haven't closed one in one of our fine suburbs, allow me to educate you on HOA fees. Most dues are paid monthly and/or quarterly, dependent upon the HOA bylaws. Well, along with everyone else, HOA's have been hit hard by foreclosures. In my humble opinion, they have figured out a way to get their lost dues money back: by charging both the buyer and seller a disclosure and transfer fee. Not only that, but the bank (seller) is required to pay … (8 comments)
How many of us have, in the last year, closed a deal here in the Greater Phoenix Market? If you haven't closed one in one of our fine suburbs, allow me to educate you on HOA fees. Most dues are paid monthly and/or quarterly, dependent upon the HOA bylaws. Well, along with everyone else, HOA's have been hit hard by foreclosures. In my humble opinion, they have figured out a way to get their lost dues money back: by charging both the buyer and seller a disclosure and transfer fee. Not only that, but the bank (seller) is required to pay … (8 comments)
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