Home Selling in San Mateo>Question Details

Jray, Home Seller in San Mateo, CA

What's the typical rate for an "HOA demand statement"? Common Interest Management charged us $399. Seems steep

Asked by Jray, San Mateo, CA Thu Mar 11, 2010

HOA demand statement = amount we owe HOA, so it'll be paid during closing at escrow
I saw that the statement was a 1 page PDF, mostly handwritten
Common Interest Management charged us $540 in total for all the documents necessary to sell the condo

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That is outrageous!!! however they can pretty much do what they want. No 2 are the same or at least they are not supposed to conspire to change the same amount. It should be reasonable. I dont know if that is common for CA however around here $25 to $50 is common. Good luck in working things out
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Thu Mar 11, 2010
HOA demands have been crazy. I had an HOA ask for $275 just to fill out a condo questionnaire.
0 votes Thank Flag Link Tue Jun 22, 2010
Seems steep to me. You should get the whole enchilada for $399, not just the 1-3 page demand.
Web Reference: http://www.atlistings.com
0 votes Thank Flag Link Sat Apr 10, 2010
If it was $350-$399 that seems about right, but it should include the cert for the lenders. Hopefully the questionnaire will be enough.

Tap
0 votes Thank Flag Link Thu Mar 11, 2010
Regarding the dues - the escrow company will prorate that. So just like your mortgage and taxes you'll only pay for the time you owned the property. They will charge for the whole month but the escrow company will split the bill between you and the buyer.
0 votes Thank Flag Link Thu Mar 11, 2010
The management company is"Common Interest Management" on behalf of Marina Point HOA

No, it doesn't include ~$100 move in fee, which buyer will be responsible for.

As the seller I get the following..
$140 for the questionnaire for the lender
$200 for documents
$399 for the HOA demand statement (which might have had an error saying i owed March HOA dues)
My agent pushed, and they deducted $200 from $399
So, the total was $539
I pray that nothing else gets added.
0 votes Thank Flag Link Thu Mar 11, 2010
That does seem steep. Maybe it includes a $150 move-in fee for the buyers? I typically see them between $300 and $450. Which property management company is it?

Good luck,

David
0 votes Thank Flag Link Thu Mar 11, 2010
Hi Jray - You may want to check with your agent to get the details, but there are a lot of documents the HOA provides for a sale including newsletters for the last year, budget, by-laws....etc. It may also include the transfer fee that is often paid for by the seller in a transaction.
0 votes Thank Flag Link Thu Mar 11, 2010
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