Denver – A homeowners group is pushing to eliminate or cap the transfer fee charged in Colorado on the sale of homes within an association. The fees, typically paid to the property manager, cover the transfer of a unit’s information and a status letter detailing whether the seller is current on HOA obligations, financial or otherwise. “Community managers have never justified this fee,” said Stan Hrincevich, president of the Colorado HOA Forum, who calls the charges “costly” and “unwarranted.” Hrincevich said he has seen transfer fees ranging from $50 to $500 or more and estimates they average about $200 per sale. He argues that transfers should be handled as part of existing administrative costs, given that they usually involve nothing more than a form letter drafted from existing HOA records. Read more:
COLORADO – Homeowners group targets HOA transfer fees in Colorado
The Denver Post – Homeowners group targets HOA transfer fees in Colorado
December 23, 2013 — By Aldo Svaldi