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  1. In real estate, an association estoppel is defined as a legal document obtained from a property’s governing homeowners’ association and certifies all outstanding fees or fines due as of a certain date.

  2. Usually, the seller of a property will pay for an estoppel certificate through their lawyer. The certificate costs between $200-$350 in Canada and is sent to the buyer's lawyer. Although it's not mandatory to have an estoppel certificate notarized, it does provide extra security.

  3. May 12, 2023 · An estoppel is a statement of accounts between an HOA and a specific property within that HOA. It is presented at closing to resolve all accounts between the HOA and the seller before the property changes ownership and is usually served as an introduction between the HOA and buyers.

  4. Jan 28, 2024 · Estoppel is binding for homeowners’ associations; it can delineate the standing fees or fines owed by a property owner, which can inform prospective buyers or involved parties of outstanding financial obligations.

  5. Feb 10, 2024 · The HOA management company will sometimes charge a fee to prepare an estoppel letter. This fee can vary widely (typically between $0 and $500). Those preparing estoppel letters typically have 15 days to provide it, but the exact amount of time varies from state to state.

  6. The certificate provides the following information: the current condominium contributions (also known as condo fees) for the unit. the payment schedule for contributions (usually monthly or yearly) whether any contributions are unpaid and. any interest owing on unpaid contributions.

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  8. Jul 30, 2024 · What Is an Estoppel Fee? An estoppel fee is a fee charged by an HOA or COA to prepare and deliver an estoppel certificate. Usually, the seller's lawyer orders the estoppel certificate and provides it to the buyer's lawyer, but a buyer can also choose to order it.

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