Where Does All That Money Go? And Whose Is It?
If you bought your home new in Mueller, you probably glossed over the parts that the builder paid for at settlement, and were busy questioning the items that you paid for. And you may have forgotten about the Mueller Enhancement Fee due on sale by the time you come to sell your home. This post explains about some of the HOA transfer fees due when you sell a house (not to be confused with a Mueller House Condo).
Here is a breakdown of the fees assessed by the HOA from my last resale HUD:
- HOA Statement Of Account fee: $90
- HOA Transfer Fee: $150
- HOA Dues in advance for following two months: $85
- HOA Working Capital Contribution: $200
- Mueller Community Enhancement Fee to Mueller Community Fund MUE02: 0.25% of the sales price – $1875 for a $750,000 home.
So that’s $2400 to be paid. Who can pay those fees? Can the buyer contribute to any of this? Yes – it’s (mostly) all negotiable. The buyer has typically to pay for their dues in advance – after all they will be owning the home for those months. And the seller typically pays the 0.25% Enhancement fee, unless they’ve negotiated something else in the contract.
These are just some of the terms that you need to be aware of when buying or selling a house at Mueller. Otherwise you could have a two thousand dollar surprise at closing.
Get in touch if you want to find out some of the other transaction costs and contract terms to watch out for. 512 215 4785