Last week I wrote about the problems with getting FHA approval for your condo associations. Today we address the fees that are charged at closing. I am told that the associations get some of them, but I think in most case the fees are accessed and kept by the management companies. One again the offenders are the large three or four management companies in Nashville. They have all kinds of creative names like transfer fees. But the bottom line is that someone's name is added to the roll and someone is taken off. The cost has to be almost nothing. I have seen $500 and more charged. I am sure they correctly believe they can do this and though they may grumble, no one walks away from the closing. These things should be addressed by the associations. That is my thought for the day.
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