DENVER.CBSlocal.com: HOA Forum Questions Transfer Fees
February 10, 2014 — CBS Local
HIGHLANDS RANCH, Colo. (CBS4) – Colorado lawmakers are working on a bill that would require property management companies to disclose the fees they charge at the closing of a home sale. In many cases, the fees are hundreds of dollars and some say they’re getting out of hand.
They’re called HOA transfer fees. They cover the cost of clearing the home title for sale. The property management company prepares a status letter that lets the new owner know if there are any delinquencies in Homeowners Association dues or fines.
“It’s almost, in my opinion, extortion. There’s nothing that you can do about it. You either pay it or you don’t get the house at all,” said Leslie Stevens, a real estate investor. Read more: http://denver.cbslocal.com/2014/02/10/hoa-forum-questions-transfer-fees/