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What do other condo associations pay for closing documents?


Question:

We are a small self managed HOA in Ohio. We fired the previous company for poor management. We are wondering what other Associations charge owners to complete closing documents? (previous company did this but did not charge the HOA). Most title companies are requesting copies of updated ledger. Mortgage companies are requesting, current yearly budget, copy of by-laws, and a document with questions about the Association (# of units, delinquency, # of non owner occupied units etc). Also, do any of you send out letters of estoppel? If so, when and how much do you charge the owner? Do any of you use Condocerts.com? We are trying to reduce our legal fees but the Board volunteers our services and this is like a full time job.


Answers (3)

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