Hi All, we are buying a condo, and the title agent is requesting the estopple letter from the HOA. The HOA charges a fee for the letter. The title

Asked by PB_WD40, Miami, FL Tue Jul 31, 2012

agent is saying I should pay for the letters first (by sending a check to the title company), and that the money would be reimbursed to me at closing. Is this normal? Thanks

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Ines Hegedus-Garcia’s answer
Ines Hegedus…, Agent, Miami, FL
Tue Jul 31, 2012
The estopple letter is usually paid for by seller but sometimes in order to expedite the process, buyers cover the expense and are reimbursed at closing. Talk to listing agent and see if they can facilitate the process and if you do pay for it, make sure you get receipts and then check your Final HUD statement for the reimbursement.
1 vote
Marco Torres, Agent, Miami, FL
Wed Aug 1, 2012
An estoppel letter from a Homeowners Association (HOA) is an official certification of a condo or homeowner’s financial obligations to the association, such as monthly maintenance fees. Also, It will inform you if there is any special assessment. It is very important for your closing for your own protection. Traditionally in Florida seller pays for the estoppel letter even with Short Sales the seller's lender pay for it most of the times.
Now, my question is Why your Realtor hasn't ask title company for the Seller to pay for it? Are you being represented by a buyer's Realtor? As a buyer, you have the right to have an attorney assist you with the closing for your peace of mind.
Any questions feel free to contact me.
Marco Torres
Miami Premier Realty
mtorresrealtor@aol.com
0 votes
Nadine Mauro, Agent, Lake Worth, FL
Tue Jul 31, 2012
Hi,

What is your agent suggesting? Have they given you any advice?

The estoppel letter is usually paid for by the seller. The title companies here in Florida, typically pay the fee and then charge it to the seller on the settlement statement.

If you pay for it before closing you have no guarantee that nothing will happen between and the date of the closing that might cause the sale to not close. You would then be out the money.

If you choose to give the money to the title company now, make sure you see the refund on the settlement statement.

Nadine Mauro
Highlight Realty
561-414-0864
NadineSellsHouses@gmail.com
http://www.floridahouseseller.com
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