Homeowners association
The organization that manages shared spaces and enforces rules in a subdivision, condo, or PUD. You pay dues and follow the rules for as long as you own there. Dues can go up, and special assessments can hit without much warning.
Every term like this one lights up in the step you're on.
Free to set up. No credit card.Part 1 of 4
Why a seller cares
The HOA touches the sale three times: the documents the buyer reviews, the estoppel letter that says what you owe, and the transfer fees at closing. A seller who orders the paperwork early keeps all three from slowing things down.
Part 2 of 4
A simple example
Your HOA charges $250 for the resale package and $400 as a transfer fee, and it takes ten business days to produce the estoppel letter.
| The HOA step | What it costs or takes |
|---|---|
| The resale documents | A fee, and days to produce them |
| The estoppel or dues letter | Confirms what you owe, and any violation on record |
| Transfer or capital contribution fees | Paid at closing, by whoever the contract says |
The HOA is a third party to your sale, with its own fees and its own clock.
Part 3 of 4
What people get wrong
That the HOA's fees are the buyer's. Who pays each one is a line in the contract, and by custom several land on the seller.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
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In your room, this word explains itself where it appears.
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