Agents think that once they are hired to manage a HOA that they have inherent authority to: 1) Charge homeowners directly for fees related to resale-certificate and transfer, 2) Set the fee amount (whatever they want to charge) for the resale certificate and transfer 3) Collect the fees for their own account. Filling out Form 01-339 is pretty straightforward, but is critical for the seller to gather all the information. Sept. 1, 1999. This cost is normally borne by the buyer. Prices vary from $50-450. I must pay sales tax on the items at the time of use based upon either the purchase price or the fair market rental value for the period of time used. How to fill out the Texas Sales and Use Tax Resale Certificate â Form 01-339. HOA's and managers or HOA's usually charge sellers for copies of these documents and for the Resale Disclosure Certificate. Usually the resale certificate is considered part of the transfer fees to transfer the property from the seller to the buyer. Generally, the seller pays for the HOA resale package and the buyer pays the transfer fee. As mentioned above, most states have specific disclosure laws that require sellers to inform prospective purchasers about implied contractual obligations, such as payment of maintenance fees, and restrictions limiting â¦ One of my buyers recently paid additional fees for extra documents requested by the lender. Fillable Form 01-339 Sales and Use Tax Resale Certificate. Box 12188 Austin, TX 78711-2188 VIEW MAP Follow Us However, the parties in the purchase and sale contract can agree to have the seller pay it or to split the cost instead of it being a buyer cost. In Arizona, for example, it is standard practice for the buyer to pay all HOA-related fees or payments at closing. I understand that it is a criminal offense to give a resale certificate to the seller for â¦ Both the Resale Certification and the Payoff Demand are required for the majority of sales; the seller generally pays for both. The update request may be made only by the party requesting the original resale certificate. (g) Requests for an updated resale certificate pursuant to Subsection (f) must be made within 180 days of the date a resale certificate is issued under Subsection (a). When purchasing a taxable item, give the seller a properly completed exemption certificate (Form 01-339, Texas Sales and Use Tax Resale Certificate (PDF)) to document the exempt sale. In Texas, the sellers pays the fees until the buyer takes possession. However, this does vary by state, and can even vary within states. Added by Acts 1999, 76th Leg., ch. Every time we've had to pay an HOA Resale Certification Fee of $455. This is a sellers expense. $165 was paid for one document from the management company! EMAIL: [email protected]texas.gov PHONE: 512.936.3000 MAIL: Texas Real Estate Commission P.O. Amended by: 1198, Sec. Seller's Obligation to Disclose HOA Documents & Information. 1, eff. Only one certificate is needed if purchases are exclusively made for resale. We've sold 6 properties in Texas in the last 2 years. Furthermore for closing the title insurance company needs to know that the sellers HOA dues and any assessments are paid. I believe this is an exorbitant fee / ripoff for what amounts to probably 15 minutes of work sending some electronic documents.
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