HOA charge when selling house (Cinco Ranch: flat fee, how much, transfer)

[nicksw10]

I read somewhere that some HOA can charge you .5 to 1 percent when you sell your house.

If so then is this part of the contract or HOA agreement?

Can they say they charge .5%, when you close on the house and make it
1 or 2 % by the time you sell?
i.e increase the charge you have to pay them?

[Txgal33]

I have never heard of that but I guess it is possible maybe!? We have sold two homes both part of HOAs and we have never had to pay. Only had to make sure our dues were current.

[lhafer]

Originally Posted by nicksw10

I read somewhere that some HOA can charge you .5 to 1 percent when you sell your house.

If so then is this part of the contract or HOA agreement?

Can they say they charge .5%, when you close on the house and make it
1 or 2 % by the time you sell?
i.e increase the charge you have to pay them?

Whaaaa???? Why the heck would I need to pay my HOA to sell my house??? They don't get enough in the dues??

Yeah - I would not be living in that community. That just sends a red flag to me about the HOA in that community.

[tdhg566]

the HOA can charge a transfer fee to cover the costs of changing the account with the management company from the previous owner to you. In our case it was reflected as a charge to the buyer on the settlement statement and was a very small amount.

[MNCold]

They can charge an tranfer fee. I bought an HOA home before.

[ethanw]

In Riverstone the HOA charges 1% and we were informed about it when we built here. I guess is part of doing business. What we were told is that Riverstone being a new neighborhood they need more money for development. I wonder when is fully developed, will they reduce the 1%?

[lhafer]

I can see there being a transfer fee, but to me a 1% charge is crazy. It should be a set fee. It doesn't cost any more to tranfer paperwork for a $500,000 house than it does a $150,000, yet they will gain a lot more money doing the paper work for the half a million dollar house.

I hate HOAs. Luckily I haven't had a run-in with mine.

[crone]

Depends on the subdivision. Mine charges a $75 transfer fee. Some MPC charge a bunch more.

[tdhg566]

Originally Posted by lhafer

I can see there being a transfer fee, but to me a 1% charge is crazy. It should be a set fee. It doesn't cost any more to tranfer paperwork for a $500,000 house than it does a $150,000, yet they will gain a lot more money doing the paper work for the half a million dollar house.

I hate HOAs. Luckily I haven't had a run-in with mine.

ours is indeed a flat fee, not a percentage

I agree with you that a percentage fee is merely an attempt to boost revenues

I'm very sorry to hear that you bought a home in an HOA managed community when you have such animosity toward HOAs - that must be difficult

what always astounds me is how quickly people establish an "us versus them" mentality about HOAs when in fact that person, the homeowner, IS the HOA

?have you ever been to an HOA meeting in your community?
?have you considered running for the board so you could help change "them"?

it's always easy to just sit back and throw stones - much harder to actually pitch in an help improve things, including changing bylaws and deed restrictions that you don't like

[nicksw10]

How about Cinco Ranch HOA? Anyone know how much they charge you when selling?