It is a common practice in many neighborhoods for the homeowners association to collect a capital contribution fee at the closing on any new sale in the community. Many times this amount will be equal to the quarterly homeowners association fee but doesn't have to be in that amount. These fees are deposited into the HOA's reserve fund which is kind of like a savings account for the community for future capital improvements.
Best of luck and if I can offer anything additional please let me know.
Always at Your Service,
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty
charges you are being asked to pay! An Association is only
able to levy charges and fees consistent with their by-laws,
Member and/or Board action. There's no ' extra" involved.
Have your " Closing Agent" explain this and any other fee
or charge you have questions on. If the charge is proper
there is a" basis " which should be made clear to you.
Bob Brubaker Highlight Realty Palm Beach County Fl. 561-876-6649
Realtor and Licensed Community Association Manager
For example if you are billed monthly, and you close on the 15th of the month, the HOA dues will either be paid in full and prorated for the additional 15 days on your HUD; or just paid in full as a good faith so the buyer starts paying the following month.