One of the services a title company performs is ordering what is known as a “HOA/Condo Estoppel”.

1. Media Contact:
Yvette Betancourt / yvette@theclosingcompany.net
Tel: 305-803-9701
Who pays for HOA/Condo special assessments?
One of the services a title company performs is ordering what is known as a “HOA/Condo
Estoppel”. This is basically a form letter asking the HOA/Condo Association what the
homeowner owes on his Association account. It also asks whether any special assessments are
due and if any special assessments are being contemplated. If the answer affirms that a special
assessment is in effect (capital improvement to common areas such as roof, pool, other
repairs) we then refer to the contract to see where it states WHICH PARTY will pay for this
assessment balance at closing. This is where my heart begins to race and I pray to the title god
above that the one of the boxes was checked off:
Over 50% of the time, a box is not checked off and we are left with sellers and buyer disputing
this issue. When the assessment is a small dollar amount, it is often resolved, but assessments
can reach tens and thousands of dollars on older buildings and can be a main deterrent for
sellers. Closings have come to a grinding halt over this box left blank. Here are some ways to
prevent issues regarding special assessments:
 Check off that special assessment box! It is customary for sellers to pay for a special
assessment, but special assessments can be negotiated in advance .

2.  Have sellers complete a Seller Property Disclosure which asks questions regarding
Special Assessments.
 Ask the title company for company of theEstoppel form completed by the HOA/Condo
 Verify whether a special assessments is due or not directly with the HOA/Condo
A few simple steps taken in advance can prevent irritated clients squabbling over who will pay
for the new siding on the buildings scheduled for 2015. For more information please contact
info@theclosingcompany.net or call 305-271-0100×701
About The Closing Company
The Closing Company is a full service escrow, title and settlement service provider offering a
broad range of legal and closing services to consumers and the real estate industry. The
company is committed to reducing the stress and unpredictability of real estate transactions
and development work through a stream lined closing process focused on problem resolution
and prevention. Utilizing sound legal practices, modern technology and a dedication to a
relaxed closing environment, The Closing Company has put together a team dedicated to
every buyer, seller and real estate professional in a real estate transaction The company
services a steady base of 40 investors and real estate professionals and mortgage lenders. The
company is based in east Kendall but closings are conducted regularly in the Miami-Dade,
Monroe, Broward and Palm Beach counties. The company is a member of Florida Land Title
Association, NILTA Solutions, Title Action Network and American Land Title Association
The Closing Company is a full service title, insurance escrow and settlement agent licensed and
bonded in the Miami, Florida. Find more information to http://www.theclosingcompany.net/
or Feel free to call us at 305.271.0100 x701.