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Old 01-24-2013, 08:43 AM
 
26 posts, read 51,446 times
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there is a term, saying "except as provided by 12(A)(4) below, buyer shall pay and and all association fees or other charges resulting from the transfer of the property not to exceed $ _____ and seller shall pay any excess"

I am wondering if the buyer can put any # in there such as 100 or even 0, assuming cash traction with low closing fees?
Any suggestions
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Old 01-24-2013, 09:28 AM
 
Location: Austin & Houston, TX
1,461 posts, read 5,597,258 times
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This is the amount that is needed to transfer all dues from them to you, but remember it should be prorated. I would have your agent review other sections within the contract as well. Is this new or resale?
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Old 01-24-2013, 10:10 AM
 
26 posts, read 51,446 times
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resale
but what do you mean "This is the amount that is needed to transfer all dues from them to you"
my understanding is that these are fees involved in the final closing cost that are not mentioned in the previous sections?
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Old 01-24-2013, 08:05 PM
 
Location: Houston area
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You can basically put whatever you want. I usually put $100-$150 and have the seller pay the excess. Cash or not, this fee won't be impacted by the method of payment. Some associations charge a set fee to transfer into your name. Don't be surprised though if the seller says for you to put "all" into that section because the fee is to transfer into YOUR name.
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Old 01-25-2013, 09:46 AM
 
26 posts, read 51,446 times
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but isn't this fee also includes any other closing cost that is NOT listed in other portions of the contract, such as the deed fee and notary fee?
In other words, I consider this as a "MISC" fee, not sure if this is a correct understanding.
If leave blank there, that probably means the buyer should pay these fee ?
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