NM HB380 to Cap the cost of HOA Disclosure Certificate to $150

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Real Estate Agent 16784

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

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Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Lloyd -- wow!  $1000 - incredible - it sounds as if there was some gouging going on somewhere.   YIKES!

Mar 24, 2015 03:40 PM #1
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Rainmaker
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C. Lloyd McKenzie

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