Have some Homeowner Associations gotten out of control? Most communities only have one association, but what happens when there are two or three? When there are three associations for one community, is it fair to collect over $400.00 for each status letter? This is pretty difficult to explain to Sellers when you call and find out what these transfer fees will be. This HOA also collects $450.00 for working capital that is never returned from the buyer.
On top of that --- some HOAs require 10 business days to produce the status letters. If the title company orders them too early, the payments made for the first of the month are not recorded, and too much was collected. If the title company waits to order until after the 8th of the month, and you have to do a mail-out, the status letter will be late. Recently this same HOA had another $350.00 RUSH FEE.
This homeowner paid $1,619.80 to the HOAs just to transfer the property. There are other HOAs in Denver that only charge $150.00 to transfer and no rush fees. This is highway robbery, and will see what can be done to reduce these fees. There should be regulations on the fees they can charge our homeowners!