My HOA notified me that I owe a $75 working capital and a $95 transfer fee that was missed by the title company at the time of closing. Who is at fault and who should I talk to about this?
Your loan officer and Realtor should have both reviewed the HUD-1 Settlement Statement prior to close. In some cases, however, certain fees may be disallowed under the loan program used to finance the property (e.g., under FHA and DVA regulations) and must be paid outside of closing (possibly the case). You may have agreed to this. The title company is not liable, since they must follow the closing instructions as provided by the lender. Without reviewing all of the documents to which you had agreed, it is impossible to determine exactly where the liability lies. I would ask your loan officer and Realtor for an after-the-fact accounting of these items. The final possibility is that these fees come due when you transfer into the HOA — after closing. Good luck.
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- My HOA notified me that I owe a $75 working capital and a $95 transfer fee that was missed by the title company at the time of closing. Who is at fault and who should I talk to about this?
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