Selling or Refinancing? Be Aware Of These Costs

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Real Estate

Selling or refinancing your home involves a lot of paperwork and financial documentation gathering.

And given the massive amounts of paperwork, important issues that aren’t part of ‘standard’ procedure can go unnoticed if you aren’t aware of certain rules or regulations, so I wanted to share with you some important information.

If you’re selling or refinancing and are part of a condo or homeowner’s association, you need to provide the buyer or lender with something called an “estoppel certificate”.

We do not require an Estoppel Letter for Refis, we will take a Ledger from the HOA which Homeowner can get for free instead of paying $250.00

The Same happens with Refis and The Municipal Lien Search – We do not Require an Municipal Lien Search, we do not require


Condo and homeowner associations are required by law to maintain current records of any assessments or liens on the properties they oversee. So the work required to put together an estoppel certificate is fairly minimal.

 This is a statement of your financial status with the association:

I like to say The Estoppel Letter is A) The Present B) The Past and C) The future of the financial status of Homeowner within the HOA Management Co.

→ How much is the Monthly/Quarter/Yearly maintenance dues

→ Are you Current or Any Past Dues

→ Are there any Future Special Assessments

→ Is Certificate of Approval Required

→ Are you current on your association dues?

→ Are there any liens on your home?

Since buyers and lenders don’t want to be surprised, providing them with an estoppel certificate is reasonable and good business practice.

Mostly for Purchases Florida law does not allow condo and homeowner associations to charge a “reasonable” fee to prepare one of these estoppel certificates. But, the term ‘reasonable’ is a little vague, so here’s some additional information to make sure you aren’t overpaying.

Many associations charge a reasonable fee of $50 or $100, while others have turned this into a revenue stream and charge over $1,000.

Current association regulations: 

→ $200 cap on fees for any homeowner who is not delinquent in paying association dues and fees;

→ $250.00 for each Association Estoppel Letter

→ $100.00 If Delinquent/past due

→ Up to an additional $200 if the homeowner is delinquent

→ Up to $100 for an expedited certificate. This We don’t know how

→ Requires associations to provide the estoppel certificate within 10 days, and have the certificate be valid for 30 days.

Some believe this is good because consumers aren’t being overcharged. Others wonder if this isn’t just another example of government regulation into private businesses.