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Danny, Home Seller in Katy, TX

What are the Fees in paragraph C of the HOA addendum?

Asked by Danny, Katy, TX Wed Jul 17, 2013

I am trying to complete the 'addendum for property subject to mandatory membership in a property owners association' form and do not understand what is required in Paragraph C, 'Fees'. It states that the buyer shal pay fees or other charges associated with the transfer of property not to exceed $_______ and seller shall pay any excess. As the seller I do not want to incur any extra expense and my HOA stuff is clear. How do I know what dollar amount to use in this field?

Thank You.

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Answers

10
Danny,
Good morning, you will need to contact your HOA to find out the correct fees. Have a Great Day!
"Selling Real Estate Since 2001"
Best Regards,
Richard Luebeck
Elite Texas Properties
12320 Barker Cypress Road
Suite 600-224
Cypress TX 77429
Cell 832-646-2886
realtor_richard@yahoo.com
http://www.har.com/richardluebeck
http://www.texasrealestate.com/richardluebeck
http://www.elitetexasproperties.com
0 votes Thank Flag Link Mon Jul 22, 2013
Contact your HOA.
In my experience the seller will cover most of this expense.
Seems like around here it is $200-$500 just to get the documents and resale certificate.
0 votes Thank Flag Link Wed Jul 17, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Hello Danny,
There is no "set" amount. Each HOA is different on transfer fee's. The amount is ,of course, a negotiated amount. Buyer and Seller must agree.
I will be glad to help you with the process.
Call anytime

281-381-8358

Ron

Ron Hardman
Broker/Owner
Apple Real Property
KatyForSale@gmail.com
http://www.KatyAreaHomeFinder.com
0 votes Thank Flag Link Wed Jul 17, 2013
Danny,

From the sounds of it you are attempting a "For Sale by Owner" transaction. Not sure if this is your first time doing so but as a REALTOR my advice to you is to hire a trusted professional. This type of transaction is highly risky and could end up costing you a lot in the end.

Not sure how you are coming up with a market value for your home but be warned there is a lot of inaccurate information posted on the web and only a REALTOR has access to trusted information and resources. Also a REALTOR with a strong marketing plan would be able to get the most exposure to those who live out of the Area/State that are looking to relocate to Katy.

With that being said, it would be my pleasure to assist you in the sell of your home. Seeing you get top dollar for your home in the least amount of time without the stress would be my goal for you. Feel free to email me at LorettaSimpson@KWRealty.com if I can be of assistance.

To answer your question, that blank is for the HOA transfer fee. This fee is different between associations. Hope this helps!

Hope to hear from you soon!

Sincerely,
Loretta Simpson
Keller Williams Premier Realty
0 votes Thank Flag Link Wed Jul 17, 2013
Thank you for the quick responses. My HOA (cinco residential) asks for a $200 resale certificate fee, which I plan to pay. I will have to call them again to inquire about any other expected fees.
0 votes Thank Flag Link Wed Jul 17, 2013
Call your HOA and ask them what their transfer fees are. The HOA should be able to tell you what they charge.

It is always best to use the expertise of a Realtor. If the paperwork is incorrectly filled out you could end up with a unenforceable or voidable contract.
0 votes Thank Flag Link Wed Jul 17, 2013
Danny I see that you are a seller, so it will cost you something to be represented by an agent, but ask yourself is it worth hiring an agent, or should I risk it by not hiring a trained professional.
0 votes Thank Flag Link Wed Jul 17, 2013
Danny, each HOA has fees when transferring ownership of property. If you have a realtor please consult them. If not then find a realtor to work with as it doesn't cost you anything to have an agent to represent your best interests but it could cost you a lot if you don't have an agent to represent you.
0 votes Thank Flag Link Wed Jul 17, 2013
No real estate license. I am not using a broker for the sale. I am unclear why this field is here as I don't know what fees, other than the resale certificate fee, there would be. I am inclined to enter a giant number as I don't have any expectation to pay any other fees. As far as I know, there are no dues, fees, fines I owe to the HOA.
0 votes Thank Flag Link Wed Jul 17, 2013
Do you have a real estate license? I would consult your broker.

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference: http://www.AustinListed.com
0 votes Thank Flag Link Wed Jul 17, 2013
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