Real estate agents represent more than buying or selling a home. Real estate agents advocate for homeownership rights and local communities. Sometimes we need to be heard. The Albuquerque City Council heard us Wednesday night.
Imagine you are a seller a week before closing, the HOA certificate fee you were expecting to pay to increased. As a seller, this leaves you with two options, to pay the fee, or risk completing the sale of your home.
This is a common situation for many Albuquerque area homeowners.
O-16-21. This was the ordinance passed by the Albuquerque City Council on October 5th. This ordinance will streamline the fees that HOA’s in the City can charge homeowners for documents needed to complete the sale of their home.
Homeowner associations do benefit communities by helping to maintain neighborhoods and preserve home values. It is not their job to make homeowners who live in their communities feel as though the sale of their home is hostage to procedures and paperwork.
HOA’s in the City of Albuquerque have been charging homeowners exorbitant sale transfer and certificate fees. Depending on the community, local fees range from $90-$550. If you live outside City of Albuquerque limits, fees can be even higher. A seller can also expect to pay fees for expedited paperwork or updated documents because a sale falls through. The proposed ordinance the council approved will cap the fees at $200. The ordinance will also make these fees due at closing.
As a real estate agent who represents the interest of homeowners, it was important to speak in support of the ordinance. My hope for local homeowners is the Mayor will sign the ordinance. My hope is this small step in Albuquerque will lead to more support for the issue on the state level.