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Home Selling in 92130 : Real Estate Advice

  • All78
  • Local Info6
  • Home Buying38
  • Home Selling6
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Activity 6
Thu Jun 22, 2017
delorrel answered:
In California, the cost of sending HOA documents to escrow is regulated by the Davis-Sterling Act. It is supposed to be related to the actual cost to produce and deliver. These forms are usually are copied, bundled and stocked to be sent to the escrow company. upon request. The average cost is about $150 and paid by the owner. However many HOA's pad these costs and feel entitled to charge whatever they want. If the cost is over $300 the owner should contact his city or county attorney and ask for intervention. The buyer, if they spot an outrageous charge for these forms cost should think carefully about closing the deal. It is an indication that your future HOA will probably be bilking you after you after you move-in. California has yet to put teeth into this form of cheating and ignoring the law. The seller should stipulate the cost be split between the buyer if over $300. In the alternative, you can ask your sales person to pay the excess amount out of his or her commission, which they will probably do to save the sale. The California legislature has refused to investigate this problem. ... more
0 votes 19 answers Share Flag
Wed Aug 21, 2013
Satar Naghshineh answered:
I know this question is old, but I wanted to answer it in case someone does a search on this in the future.

I am a licensed real estate broker in the state of California. This applies to California only. Also, I am not a lawyer nor do I claim to play on TV (just on the internet).

In regards to this situation, on the purchase contract it says that the Seller is responsible for the costs of HOA documents and transfer fees. However, when you open up escrow, escrow sends escrow instructions to the buyer to sign. Somewhere in those instructions, it authorizes the escrow company to utilize the buyer's deposit to order and pay for the HOA documents and credit the buyer at close of escrow for the fees paid. There is usually verbiage in there that says these funds are non-refundable if escrow cancels or they will be refunded back to buyer if seller opens escrow with another buyer or whatever. So if the buyer agrees and signs the amended escrow instructions, they will bypass the residential purchase agreement. If the buyer didn't sign and return the escrow instructions prior to using a contingency to cancel, then the seller is on the hook.

In the future, shove all costs onto buyer, regardless of what is the norms of your real estate area. Either that or make sure you utilize a competent escrow company.
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2 votes 22 answers Share Flag
Mon Jun 18, 2012
Kari Shea answered:

First, is your home in SC or CA? The laws of each state dictate how the contracts are written, etc.

As for your question, Robert has this right.

A note to add, if the buyers walk you have paid for the HOA docs and should not have to pay anything else until closing. You can use the HOA docs to give to the next buyer as the current buyer should rightfully return them.

Best of luck,

Mark & Kari Shea
Shea Real Estate
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0 votes 8 answers Share Flag
Tue Jan 17, 2012
Chris Gorno answered:
Keep us posted Ken! We would like to hear back on things work out for you and your Grandmother. Just curious is the home in Carmel Valley or Rancho Cucamonga?
0 votes 16 answers Share Flag
Thu Dec 15, 2011
Mario Roberts answered:

6 Bedroom 108 days
5 Bedroom 81 days
4 Bedroom 76 days
3 Bedroom 69 days
2 Bedroom 77 days
1 Bedroom 101 days

Hope this helps!

Mario Roberts
Realtor / RE Investment Consultant

"Always happy to work with your referrals"

Gold Coast Properties
4443 30th St. #200
San Diego, CA 92116

C: 619-500-6006
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0 votes 15 answers Share Flag
Thu Aug 12, 2010
Patrick Hale answered:
We provide flat fee listing service as well as limited, full service and distressed property listings.

Patrick A. Hale, CDPE, RSD
Real Estate Broker & Investor

"Help Over 360 Distressed Home Owners Avoid Foreclosure"
If You or Someone You Know is in Financial Distress Visit:
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0 votes 11 answers Share Flag
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