A "Transfer Fee" is a fee charged to cover the expenses of the necessary transitioning activities and paperwork from the seller to the buyer. The HOA transfer fee generally covers the new documentation and paperwork involved in setting up a new homeowner.
It is the policy of the Fair Oaks Homeowners' Association (FORHA) to require a transfer fee of every property within FORHA that has a change of ownership. This fee is normally collected by the title company during closing and remitted to FORHA on behalf of the new homeowner. In the event that the title company does not provide the fee to FORHA, it will be the responsibility of the new homeowner to pay the fee.
The amount of the Transfer Fee is as follows:
FORHA only $ 200.00
FORHA & Unit HOA $ 250.00