Home Buying in 92201>Question Details

Vero, Home Buyer in 92201

who pays for hoa transfer fees?

Asked by Vero, 92201 Sat Oct 24, 2009

i'm buying a condo in downtown san diego, i need to know if the buyer or the seller pays for HOA transfer fees and documentation preparation fees. Can somebody help me?

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12
That is typically 50/50, except on a VA then it's the seller, but it is negotiable - See attachment/website for a list of customary fees on "Who pays what".

Soila Thompson
Buyers agent
949.545.1177
1 vote Thank Flag Link Thu Aug 23, 2012
the fee is negotiable, however to understand what the fee is and isn't I suggest you go to a web site http://www.coloradohoaforum.com read how this is an unjustified and unwarranted fee to benefit not the HOA but property managers, this should be ended, period, the fees are not justified by work performed, please visit this site to get informed,
0 votes Thank Flag Link Sat Apr 5, 2014
First, the HOA normally has nothing to do with a transfer fee, doesn't retain the transfer fee, doesn't set the rate on a transfer fee, and most of the work related to a transfer fee is already paid for by the HOA with their contract with the property management company. Our position paper on this unwarranted and abusive fee is on the home page of our web site, our group aims to end or limit the amount to $50, this is an opportunistic, not legally required, and unjustified fee. If you wish to discuss further please contact us
http://www.coloradohoaforum.com
0 votes Thank Flag Link Sun Dec 22, 2013
First, the HOA normally has nothing to do with a transfer fee, doesn't retain the transfer fee, doesn't set the rate on a transfer fee, and most of the work related to a transfer fee is already paid for by the HOA with their contract with the property management company. Our position paper on this unwarranted and abusive fee is on the home page of our web site, our group aims to end or limit the amount to $50, this is an opportunistic, not legally required, and unjustified fee. If you wish to discuss further please contact us
http://www.coloradohoaforum.com
0 votes Thank Flag Link Sun Dec 22, 2013
Let me address for Colorado from the home owner's perspective. The Colorado HOA Forum, an HOA homeowners advocacy group in Colorado, is working to repeal or limit the amount of this fee. Our position paper is on our web site home page http://www.coloradohoaforum.com . This is basically an opportunistic fee charged by property management companies, not the HOA, at closing without explanation or justification.
0 votes Thank Flag Link Thu Dec 19, 2013
Let me address for Colorado from the home owner's perspective. The Colorado HOA Forum, an HOA homeowners advocacy group in Colorado, is working to repeal or limit the amount of this fee. Our position paper is on our web site home page http://www.coloradohoaforum.com . This is basically an opportunistic fee charged by property management companies, not the HOA, at closing without explanation or justification.
0 votes Thank Flag Link Thu Dec 19, 2013
According to my escrow officer, it is the buyer's cost. My HOA is charging $175 for a simple piece of paper they filled out by hand with about 10 lines of information on it. I will take them to small claims court before I pay $175.
0 votes Thank Flag Link Fri Jun 15, 2012
As a rule its very common to spit HOA transfer fees 50/50. However, have your agent state in your purchase offer for the seller to pay them. I do it for ever buyer I work with and have never had it questioned.
0 votes Thank Flag Link Fri Nov 6, 2009
Well you dont get what you dont ask for! However, they can say "heck no"

I just had a bank ask me to pay for the arrears on HOA for a seller and we represent the buyer. They want $3600 in order to do the deal! Told em to go pound sand.

If any Seller or Agent is reading this and you have a good solid investment property, send me property information to hotprop@myrealestatebuddy.com

Looking for property in SD - All CASH 15 DAY CLOSE - Will consider current tenants to remain as renters and will entertain short sales.. we will wait for the right deal.. Also looking for BULK So for the who have great relationships with asset managers and can put together a bulk deal.. ever better..
0 votes Thank Flag Link Sun Oct 25, 2009
Vero: In a traditional market between buyers and sellers, here in California, the seller pays for HOA transfer and document fees.

However, if you are trying to negotiate a short sale or a bank owned property the bank can refuse to pay for them. The banks are looking at their bottom line and many times refuse to pay for "standard", seller paid items.

If you really want the condo and feel you are getting at a low price due to our current economic situation then you may want to consider paying for them to get the transaction closed.

Good Luck!

***
Web Reference: http://www.soreal.biz
0 votes Thank Flag Link Sun Oct 25, 2009
You can alsways aske the seller to pay.
Web Reference: http://cindihagley.com
0 votes Thank Flag Link Sat Oct 24, 2009
Cindi Hagley,…, Real Estate Pro in San Ramon, CA
MVP'08
Contact
Vero,

Closing cost fees are negotiable between a Buyer and a Seller including HOA (Home Owner Association) transfer fees. In most cases the Buyer pays for the cost of the transfer and the Seller pays for the recording. The fees usually would also be prorated.
0 votes Thank Flag Link Sat Oct 24, 2009
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