HOA (Homeowners Association) transfer fees are charges imposed by the homeowners association when a property within the association changes ownership. These fees are typically paid by buyer during the sale of a property and are meant to cover the administrative costs associated with transferring the ownership and membership responsibilities within the HOA.
The specific amount of the transfer fee can vary widely depending on the homeowners association's rules and regulations. Some HOAs may have a flat fee, while others might calculate it based on a percentage of the property's sale price. In some cases, there may also be additional fees for obtaining certain documents or disclosures required for the transfer.
All transfer fees will be detailed on your final closing documentation from both the title company and the HOA.
Any further questions about closing process or closing costs? You can always reach us at info@choiceland.com or better yet give us a call at 724-888-5250 and let's talk about what you're looking for!
