In the News: HB380 to Cap the cost of HOA Disclosure Certificate to $150
In the recent session of the New Mexico Legislature, there was a big push to pass legislation that would cap the amount that HOA'scould charge for the Disclosure Certificate. The interesting finding was that the original bill requires the HOA to “charge a reasonable fee” for the certificate.
Unfortunately, that was too vague, because it was reported that the charges ranging from $100 to $1000 were being charged to get this certificate.
This bill would definitely be of benefit to the consumer. No more do they have to be gauged by these HOA