What fees are common interest communities allowed to charge incident to a purchase/sale agreement?

 

The allowable fee(s) an association may charge for providing disclosure packet or certificates depends upon whether the association is professionally managed by a common interest community manager (CIC managed association).

“Professionally managed” means a common interest community that has engaged (i) a common interest community manager to provide management services to the community or (ii) a person as an employee for compensation to provide management services to the community, other than a resident of the community who provides bookkeeping, billing, or recordkeeping services for that community.

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 buyer, the buyer’s 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 buyer for a post-closing fee to change the association’s records to reflect the new owner.
  • The association may not charge additional fees to access the CIC managed association’s website. The association or its manager may charge for the following items requested by the seller or seller’s 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.

Commercial Council