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Re: HSTEP-1956?

Posted by Ralph on July 06, 2011 at 1:21 PM

In Reply to: Re: HSTEP-1956? posted by 427 on July 06, 2011 at 10:42 AM

Did the title company receive any documents for benefit of you or to close the transaction that you may not be aware? Documents could very well be a catch-all term for something minor but notarized by a HOA officer and express mailed to the title company. In any event it sounds as the charges are excessive and an excuse to get money out of the seller and/or buyer. Some investors avoid HOA because they're so inflexible. My experience is that HOA are almost exclusively in move-up homes and not entry-level homes, but things could be different in your part of the world.

Rarely if ever do laws address the propriety and reasonableness for these type fees, as legislators don't want to go there. Best advice is to pass on the costs to the other party or add in to your closing costs when computing your offer.

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