I thought fees for resale packets were capped at 100. Why am I being charged more?
I thought fees for resale packets were capped at $100. Why am I being charged more?
Legislation in the 2007 General Assembly session changed the fees that associations may charge for packets or certificates delivered in connection with the sale of a property. Legislation passed during this years session further clarified allowable charges. The fee for the packet or certificate now hinges on whether the association is professionally managed by a common interest community manager (CIC managed association).
Associations that are not CIC managed may charge the actual cost for the preparation of the packet, not to exceed 10 cents per page, up to a total of $100.
CIC managed associations may charge the following:
- $125 for five electronic copies to go to the seller, the listing agent, the purchaser, the purchasers agent and one additional person designated by the requestor, and $150 for two hard copies of the packet or certificate
- $100 for a physical inspection of the property, if the association has architectural control over the unit (no additional inspection fee may be charged for unimproved lots except for those already outlined in the Code)
- $50 to the purchaser for a post-closing fee to change the associations records to reflect the new owner.
The association may not charge additional fees to access the CIC managed associations website.
The association or its manager may charge for the following items requested by the seller or sellers agent:
- $25 for each additional hard copy of the packet or certificate
- 50 to expedite delivery of the packet or certificate
- Actual cost paid to a third-party for hand-delivery or commercial overnight delivery of the packet or certificate.
The fees for professionally-managed associations shall adjust in accordance with the United States average Consumer Price Index every five years.