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45
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13
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Jack Halldin
  • Investor
  • Broomfield, CO
13
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45
Posts

Estoppel Fees on closing - HOA

Jack Halldin
  • Investor
  • Broomfield, CO
Posted

I am selling a condo in Florida, of course part of an HOA, actually multiple HOA's seem to be in the overall community. Looking at my closing documents, conveniently provided 24 hours before closing I see an estoppel fee of $1,098 coming out of my proceeds. I am told this is for the various HOA's to provide a certificate that I am current with all the HOA dues. Just doing a check here does this seem reasonable by any means? I feel like they could look up in the system and know I am current in 2 minutes. I have sold other condos in Florida and looking at my closing docs don't even see this fee (also HOA communities). Curious what other people think, of course at this point what can I do.