HOA Transfer Fees: Defined & Explained
An HOA transfer fee is one of many fees involved in a home sale transaction. This post will explain what it is, what it pays for and how much it typically costs.
What is an HOA transfer fee?
Sometimes referred to as HOA document preparation fees? The HOA transfer fee covers any costs the Homeowner's Association incurs to update internal documents with the new owner's information and to distribute various HOA documents to the buyer. These documents typically include any governing covenants, convictions and restrictions, rules and regulations, financial statements, amendments and property defects.
HOA Transfer Fee Cost & Who Pays:
HOA transfer fees are typically $500 or less and are almost always paid by the seller.
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