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Is it normal for title co request tax/mtnce fees to be paid...

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Pcbd26

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Hello everyone, I am in process of purchasing a property on Karen Ave.. I received an email from the title company requesting that I pay taxes and maintenance fees for 2015. This transaction is still in process and I don't even think ROFR has been submitted to Hilton yet. I thought it was very strange that they are asking me to pay maint/tax on a property before I actually own it. Is this a common practice?

I would think the more appropriate way would be that the seller would pay this and I would pay the prorated amount for 2015 at closing.


Thank you for your help!
 
presley

presley

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Not unusual. Those fees are due January 1, 2015. If they aren't paid by by then, there will be no way to transfer to property.
 
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Pcbd26

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I'm just worried that if I do pay them and property does not pass ROFR, I won't have any recourse to get money back for Taxes/Maint fees.
 
tschwa2

tschwa2

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If it doesn't pass ROFR then Hilton will reimburse the fees. It should be included that the MF's were paid as part of the agreement. (I have no experience with Hilton but this is how it works with Marriott and ROFR at this time of year and as they are both reputable timeshare companies I would expect it to work the same.)
 
holdaer

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Pcbd26 said:
Hello everyone, I am in process of purchasing a property on Karen Ave.. I received an email from the title company requesting that I pay taxes and maintenance fees for 2015. This transaction is still in process and I don't even think ROFR has been submitted to Hilton yet. I thought it was very strange that they are asking me to pay maint/tax on a property before I actually own it. Is this a common practice?

I would think the more appropriate way would be that the seller would pay this and I would pay the prorated amount for 2015 at closing.


Thank you for your help!
Click to expand...

FWIW, I just closed on a 2BR Gold Season at Karen Ave and was required to fund the purchase price, closing costs and 2015 maintenance fees to the closing company prior to passing ROFR. Once HGVC passed on ROFR, then everything flowed through without any issues.
 
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