HOA Estoppel Letters | A Sometimes High & Unexpected Home Selling Expense
When you sell your home, you provide the buyer a warranty deed, which guarantees that you hold clear title to the property and that you have the right to sell it. Your guarantee is backed up by a title insurance policy, which you purchase as a closing expense and provide to the buyers and their lender. Before a title company will issue a policy, they ensure that in-fact there are no liens or encumbrances on the property, such as a mortgage loan, city municipal lien, or mechanic’s lien, and that home owners’ association (HOA) dues are paid in full.