Who pays HOA statement fee?

Question

Who usually pays for the HOA statement fee (to determine the transfer fee, outstanding dues, etc) when buying/selling a house? Is this a buyer or seller cost? There is nothing in my contract related to this.

Morgan Gallagher · Answer

My HOA is trying to charge me $373 for the statement of account. I’m wondering if I have any recourse for this obscene amount? I can’t find any documentation that I signed or is publicly posted that says you pay $XXX when you sell. It appears to be arbitrarily selected and basically be an obscene amount that they think people will pay else they can’t sell their house?

Vijaianand Thirunageswaram · Answer

@Tony Castronovo What you negotiate is you pay for the docs and they pay for the transfer fees so it's balanced or other way around.

Tony Castronovo · Answer

Thanks for the additional perspective @Vijaianand Thirnageswaram. That was my instinct...negotiable. I also have concerns if I were to pay and the deal falls through. It’s not a ton of money, but hate to throw away $700.

Vijaianand Thirunageswaram · Answer

@Tony Castronovo I would have to disagree with everyone. I close deals both retail and investment properties. It all depends on how you negotiate with your buyer agent. It can go both ways. If I am a buyer agent, I try to make seller pay for it. If I am seller agent, I tried to make buyer pay for it. It's one of the negotiable item in the HOA addendum. The thing about it is, if you are seller and you are paying for the title policy, buyer can share the transfer fee and cost to get HOA docs. If they back out, you are not the loser paying for it.

In your case, you are selling as full package but each property is located with different HOA companies and they charge differently. You have to give CC for each one to order it. But why do buyer need HOA docs? I usually select the 4th option of not delivering HOA docs.

Dawn Brenengen · Answer

Seller fee in NC

Christine Kankowski · Answer

typically seller in my area- so cal

Russell Brazil · Answer

Seller fee.

Tony Castronovo · Answer

Again, I have several homes being sold as a package. Most of them are $100/each. I have a couple that are $40 and $75 respectively. Sounds like everyone is suggesting this is a seller cost. Hmmm.....

Dave Chapa · Answer

Lat house I sold I paid the fee. It was $50.

Henri Meli · Answer

@Tony Castronovo . I remember being charged that fee at a recent sale of a house I owned. It was around $10, so I didn't really try to challenge it. If it becomes significant, then ... you definitely need to find out. Maybe the HOA covenant document contains it? You can also call your HOA association managers and ask.

Who pays HOA statement fee?

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