Help- hidden charges??!!

[pstam]

Hi
Just received document from closing company---with fine print stating [purchase price] DOES NOT INCLUDE resort transfer fee.....and some incidental paperwork fees----the private seller ASSURED me the purchase price INCLUDED everything!!! Whose responsibility is to pay the new found fees??? Is this typical- now a great deal on a not so great property is starting to sour....any advice appreciated! Need to know in next few days

 

[Spence]

Only you know what was verbally agreed to between you and the seller. That being said the purchase price does not normally include the closing costs and resort transfer fees. These are most often borne by the buyer but everything is negotiable. If you don't have a signed contract that states what's what you don't have a leg to stand on.

 

[Dave*H]

the private seller ASSURED me the purchase price INCLUDED everything!!!

Have you contacted the seller? Maybe this info was not communicated from the seller to the closing company? Do you have an email from the seller to back this up or is it just verbal?

 

[aliikai2]

If your seller

wrote your purchase contract stating that all fees were included, then the seller needs to pay these.

These don't sound like new found fees, they are pretty normal in any transfer and closing, but if you don't have a written agreement regarding these fees, and the seller won't pay them, then you options are few.

You can pay them, or walk away from the deal.

The closing company may well collect their fee from you even if you don't close, as they aren't a party to any agreement you have or think you have with the seller.

fwiw, Greg

Hi
Just received document from closing company---with fine print stating [purchase price] DOES NOT INCLUDE resort transfer fee.....and some incidental paperwork fees----the private seller ASSURED me the purchase price INCLUDED everything!!! Whose responsibility is to pay the new found fees??? Is this typical- now a great deal on a not so great property is starting to sour....any advice appreciated! Need to know in next few days

 

[LauraS93]

How bad is the resort transfer fee?

 

[rickandcindy23]

They are high, sometimes.

Consolidated charges a total of $550 resort transfer fees and Pahio only charges $250. But both are high when you consider that they just need to enter your information into the computer.

The transfer fees are an assurance that the developer will get a little off of every resale. I don't care how they justify it. That is the sole purpose of a transfer fee.

 

[pstam]

I do- I have e-mail correspondances. Do you think an offer to split the cost is fair and reasonable (the additional cost is $280)

 

[california-bighorn]

You could ASK to split the costs, but if it was a place I really wanted I won't worry about the $280 you were not aware of. That amount is on the low end of closing fees and divided by the number of years you will enjoy your resort it should come out to an insignificant cost. Good luck and enjoy!!!
Marty