Estoppels in Real Estate

moneyhands_217w_gifSo you think that you have considered all the epenses that are required to sell your home?  Maybe not.  Did you know that the seller might have to get an estoppel letter from the management company.  This legal document outlines information regarding the current owner’s financial standing in regards to the HOA, what is due and what has not been paid. It also indicates any assessments that are in progress or projected. Typically, these letter are needed before the 15 days before closing, as well as an update fee if the closing is delayed beyond the “good through” date. You would think that most management companies could provide this service for free and have several years ago. Unlike most closing fees, which are paid at the time of closing, management companies require payment upfront. However, this has been considered another source of income.  Additionally, there is not uniform cost to provide an estoppel. The good news is that you don’t have to get an estoppels for properties not in a subdisivion..  The bad news is that you will most likely have to get one from the management company to sell the property.

KW1784102f20KW_thumb.jpgYou should consider using a realtor.  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty a.t 2119 W Brandon Blvd, Brandon, Florida  33511).  As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota.  The Keller Williams offices of  ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico.  My email address is alanlane66@gmail.com, or call me at 813.205.9280.  If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link

Advertisements

One thought on “Estoppels in Real Estate

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s