Resale Information for Homeowners

 

We want to help as much as possible to make your home sale a success. We have prepared these notes to help make things easier for you.

You may request that the title company pro-rate your dues to the date of closing. If you do this, you should receive a credit for the remaining fraction of the year and your buyer should be charged that amount. If you don't specifically request this, most title companies will not pro-rate HOA dues. Note that this is just a pro-ration between seller and buyer.

Also, a Transfer Fee of $245 is due at closing. Customarily the buyer pays this fee. Normally the title company takes care of this. If you have arranged to pay all your buyer’s closing fees, you might want to tell your title company to include the HOA Transfer Fee in your column.

The Property Code requires an HOA to furnish upon request a disclosure statement about your property called a Resale Certificate. This document is normally requested by the title company prior to closing but can be ordered at any time up to 90 days prior to your closing. The cost for the Resale Certificate is $350, normally paid by the seller at closing.

The Resale Certificate includes all the legally required HOA disclosures as well as a copy of the deed restrictions for the buyer. It protects you from later claims by the buyer that you did not disclose any of a range of HOA-related issues. The Resale Certificate also notes any outstanding unapproved structures or modifications as well as any outstanding account balance due the WHOA.

Title Company can request resale information at resales@goodwintx.com or by calling 512-502-7515.