U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Arizona > Phoenix area
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-08-2012, 11:45 AM
 
1,087 posts, read 3,241,626 times
Reputation: 946

Advertisements

Looking at some listings in Sun City, I found one that says there is a $300 Resale Transfer Fee, and a $3,000 Capital Preservation Fee. I've heard of resale transfer fees before, so I guess those are common with HOAs, but what about the Capital Preservation Fee? I don't recall seeing another listing with this fee in it. Is this something all HOAs charge when you buy a home? Is it a one-time fee, or yearly? I did a forum search before asking, but nothing comes up in search.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 02-08-2012, 11:50 AM
 
Location: Southeast Valley
1,123 posts, read 2,812,831 times
Reputation: 788
The Capital Preservation Fee would be a one time fee, when you purchase the home. Most associations don't have this. However, it is much more common in age restricted communities. Sometimes it will be a flat fee, and sometimes it will be a percentage of the purchase price. You can always ask the seller to pay it.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-08-2012, 12:13 PM
 
1,087 posts, read 3,241,626 times
Reputation: 946
Thank you!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-08-2012, 01:13 PM
 
Location: Oxygen Ln. AZ
9,320 posts, read 17,641,053 times
Reputation: 5742
Most of the sellers have already paid the fee when they purchased their homes and seemed a bit hesitant to pay again. We coughed it up when we purchased this little box and it was a bit of a hit, but then the homes are very reasonable being they are ancient. Sun City does an outstanding job of taking care of the common grounds and love the mid century feeling here. So it was worth it to us I suppose. Also with the property taxes being almost a third of what we paid in our prevous neighborhood, it made sense for us to make the jump.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-08-2012, 01:15 PM
 
Location: Out there somewhere...a traveling man.
42,082 posts, read 55,041,358 times
Reputation: 118700
Every new home buyer is charged the $3000.00 PIF fee in Sun City no matter what home you buy. On top of that you'll have Rec fee of $420.00 and then whichever HOA unit you're in there will be another fee. There are over 365 HOA's in Sun City so the HOA fee will vary from one to the other. Ypu'll also have to pay a small fee to join and use many of the hobby facilities. You'll also pay golf fees if you wish to golf.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-08-2012, 01:43 PM
 
Location: Oxygen Ln. AZ
9,320 posts, read 17,641,053 times
Reputation: 5742
We feel the value is in the single family detached homes. Some of the condo units here cost about the same as a single family home and the HOA fees are a lot higher and like nitram said, vary in costs. Our HOA fee for our home is $20 a year, the rec fee is $37 a month and paid for the year. I joined a clay club and it was an additional $20 for the year. Not bad in my opinion and I think I covered it all except the $3,000 fee which is a one time hit.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-08-2012, 01:57 PM
 
Location: Sonoran Desert
35,266 posts, read 45,368,808 times
Reputation: 24204
Can that fee be financed in the mortgage?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-08-2012, 02:10 PM
 
1,087 posts, read 3,241,626 times
Reputation: 946
Lots of good info here. Thanks, everyone!

Quote:
Originally Posted by nitram View Post
Every new home buyer is charged the $3000.00 PIF fee in Sun City no matter what home you buy. On top of that you'll have Rec fee of $420.00 and then whichever HOA unit you're in there will be another fee. There are over 365 HOA's in Sun City so the HOA fee will vary from one to the other. Ypu'll also have to pay a small fee to join and use many of the hobby facilities. You'll also pay golf fees if you wish to golf.
Over 365 HOAs?! Well that sure does explain something I've been wondering about. I didn't realize there were several HOAs in Sun City. I thought it as all the same HOA, but I'd been seeing some listings that say "no HOA fee" and others that say there is a fee, so I wondered what was up with that.

Probably the only facility I would use would be the pool. Is pool use part of the rec fee, or is that separate? And if there is a dog park, I would also use it. Otherwise, my hobbies are pretty much things I do alone that don't require a facility or joining a club, and I don't golf. My main reason for wanting to move to an adult community is (hopefully) peace and quiet.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-08-2012, 04:09 PM
 
Location: Southeast Valley
1,123 posts, read 2,812,831 times
Reputation: 788
Quote:
Originally Posted by Ponderosa View Post
Can that fee be financed in the mortgage?
Good question, but I don't believe so.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-08-2012, 04:26 PM
 
Location: Out there somewhere...a traveling man.
42,082 posts, read 55,041,358 times
Reputation: 118700
Quote:
Originally Posted by Ponderosa View Post
Can that fee be financed in the mortgage?
No, it has to be paid at the closing of escrow. It'll be part of the closing cost package.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Arizona > Phoenix area
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top