LindaK5 (California)
Posts: 242
Posts: 242
Posted:
What do you all charge as a transfer fee for handling a sale transfer?
We are a self-managed community.
We are a self-managed community.
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Transfer Fees
Started by LindaK5 • 7 replies • 1258 views
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TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
We charge zero.
However, as allowed by statute, we do charge $100 for the Associations disclosure package.
However, as allowed by statute, we do charge $100 for the Associations disclosure package.
CarolF (Florida)
Posts: 435
Posts: 435
Posted:
Linda - do you provide an estoppel certificate for the transfer, as well as other documents?
RichardP13 (California)
Posts: 3,868
Posts: 3,868
Posted:
Quote:
Posted By LindaK5 on 10/03/2016 8:52 PM
What do you all charge as a transfer fee for handling a sale transfer?
We are a self-managed community.
What do you all charge as a transfer fee for handling a sale transfer?
We are a self-managed community.
What exactly are you referring to in regards to a transfer fee. If you are a self managed community, do you provide to the seller during escrow all the required documents per California statues?
LindaK5 (California)
Posts: 242
Posts: 242
Posted:
Carol ...not required in CA.
Richard ....yes.
,
Richard ....yes.
,
LindaK5 (California)
Posts: 242
Posts: 242
Posted:
I meant estoppel not required.
Transfer fee meaning fe paid through escrow for Association docs, etc.
Transfer fee meaning fe paid through escrow for Association docs, etc.
RichardP13 (California)
Posts: 3,868
Posts: 3,868
Posted:
Linda
Speaking from a management company point of view, here is what many do. I handle escrows through a computerized online service. Once I load all the required documents and questionnaires for each association, the escrow process after that take 5 minuets to complete. When I first started in this business, everyone hated having to put these packages together.
We actually three different fees, document fees, HOA fees and transfer fees. The document fees would be for all documents required in California per Civil Code passed by the legislature. HOA fees would be assessment, past and present, key fee, moving in and out fees, remote fees, etc. The transfer fee, as management companies perceive it is a fee to transfer, close and open accounting records of seller and buyers. My understanding is the average in California is about $250.00 for that specific service.
Speaking from a management company point of view, here is what many do. I handle escrows through a computerized online service. Once I load all the required documents and questionnaires for each association, the escrow process after that take 5 minuets to complete. When I first started in this business, everyone hated having to put these packages together.
We actually three different fees, document fees, HOA fees and transfer fees. The document fees would be for all documents required in California per Civil Code passed by the legislature. HOA fees would be assessment, past and present, key fee, moving in and out fees, remote fees, etc. The transfer fee, as management companies perceive it is a fee to transfer, close and open accounting records of seller and buyers. My understanding is the average in California is about $250.00 for that specific service.
LindaK5 (California)
Posts: 242
Posts: 242
Posted:
Thanks, Richard.
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