回复：hoa tranfer fee, hoa capital funding fee, etc

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3 days before closing, i got the title company's notice that i have to pay hoa tranfer fee $350, hoa capital funding fee $150 plus portion of the HOA annual fee. These fees are not mentioned in the contract.
Did any one experience the same thing before?
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Based on my dealing with HOA, these are somewhat reasonable depending on your expectation.

1. HOA tranfer fee $350,
This mean HOA wants to charge you $350 for change the name of owner, possibly send you a new copy of the by-laws. This could have been in the negotiations, if your agent is better than good, and is knowledgeable to local customs. You can think this as the initiation fee to join a club as my swim club does, though HOA is mandatory and swim is optional.

2. HOA capital funding fee $150
This could be up to debate. I'm not sure it's a fee for the process of adding your name to the owner list, or the actually fund itself. Either way, it's not a big deal, compared with the cost of owning a house in the first place.

3. portion of the HOA annual fee
Completely reasonable. You need to pay the portion of the HOA annual fee, just as the property tax is pro-rated.

IMHO, if the first 2 are in the contract, then it's great. If they are not, you're out of luck. #3 needs to be paid by buyer always.

Think HOA as 居委会 in China, run by a bunch of old housewives. They do provide some service, but many times it's more like pain in the ... However, it's part of life, and you just have to deal with it.

Hope this helps. Good luck.
www.sunskitehomes.com

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• thanks for the info -joetheplumber- ♂ (0 bytes) () 08/23/2010 postreply 11:17:45