Question:
I am new to the State of West Virginia and am having a bit of trouble having a question answered for our HOA, where I am their Secretary for the Board.
Can the State of West Virginia charge a HOA Transfer Fee when selling a house within our community and if so, how is that charge determined and lastly, we would need to add that to our By Laws if we do approve this.
Thank you in advance for your time and assistance in answering my questions.
– Patricia
Answer:
Hi Patricia,
A homeowners association in West Virginia can charge a transfer fee when selling a house. There is no specific dollar amount or limit for this, and the computation will depend on the community. Generally, it should cover the costs that your HOA will incur when transferring the property. These include the cost of preparing and distributing documents, updating records, switching security codes, updating amenity passes, etc. It is best to amend your declaration to include the association’s authority to charge this transfer fee.
Additionally, be advised that you must include this fee in the public offering statement to the purchaser. As per the West Virginia Uniform Common Interest Ownership Act Section 36B-4-103(a)(7): “Any initial or special fee due from the purchaser at closing, together with a description of the purpose and method of calculating the fee.”
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
