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Selling within 5 yrs. Vote Yes or no to transfer fee ?
Selling within 5 years does
Building is proposing a vote on an amendment
For new owners to pay 3,000 1 time transfer fee
It is supposed to offset future work costs, maintenance etc.
I won’t receive the long term benefits.
We could get a big unexpected assessment and perhaps this is how they plan to deal with it.
Would this affect sale ability and potential value of my unit in the future?
Building is proposing a vote on an amendment
For new owners to pay 3,000 1 time transfer fee
It is supposed to offset future work costs, maintenance etc.
I won’t receive the long term benefits.
We could get a big unexpected assessment and perhaps this is how they plan to deal with it.
Would this affect sale ability and potential value of my unit in the future?
Asked By Todd | Long Beach, NY | 256 views | Tips Advice | 2 months ago
Answer(4)
Jason Craig
Coldwell Banker
Todd, I’d vote “no” if you know you’ll be selling in the next 5 years. A $3,000 transfer fee on top of closing costs can definitely make your unit less attractive to buyers, especially in a market like Long Beach where condos already come with HOA dues and occasional assessments. These kinds of fees are meant to build reserves for future work, but if you won’t be around to benefit, you’d essentially be paying into something the next owner gets. Buyers also tend to push back on fees like this, which can hurt marketability.
- 2 weeks ago
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Andrew Test
Avyatech Fastexpert Company1
This is a test reply from automated testing. This discussion should be deleted after the test is complete.
- 1 month ago
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- 3 days ago
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Tatevik Hovhannisyan
RE/MAX Optima
A $3,000 one-time transfer fee for owners selling within 5 years could impact your unit’s resale appeal. Buyers might see it as an added cost, which could affect how quickly your unit sells or its market value.
On the other hand, the fee is meant to help cover future maintenance and avoid big unexpected assessments, which can also protect property values long-term.
It’s important to weigh the immediate cost against potential benefits. Talking to your HOA board or a real estate professional can help you understand how this might affect your specific situation.
On the other hand, the fee is meant to help cover future maintenance and avoid big unexpected assessments, which can also protect property values long-term.
It’s important to weigh the immediate cost against potential benefits. Talking to your HOA board or a real estate professional can help you understand how this might affect your specific situation.
- 1 month ago
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