Virginia Regulatory Town Hall
Agency
Department of Professional and Occupational Regulation
 
Board
Common Interest Community Board
 
Guidance Document Change: Amended Guidance Document: Regarding Specific Maximum Allowable Fees Set by the Property Owners Association Act and Virginia Condominium Act that may be Charged by the Preparer of Disclosure Packets and Resale Certificates
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2/25/23  4:11 pm
Commenter: Mary Page, DPHOA and GLPOA

Allowable Fees for Real Estate Disclosure Packets for Self-Managed Associations are Insuffient
 

I voluntarily prepare packets for two associations to which I belong, one of which requires two separate packets depending on lot number/address (different C&R's), so both need to be updated.  I follow the DPOR/CIC Discl Packet Notice (20 items) to the letter, which requires searching VA and DPOR/CIC sites to make sure I am up to date on any changes/additions.  I must check to ensure our registrations with DPOR/CIC and the SCC are up to date.  I must also verify that the lot and structures are in compliance with our docs, and whether fees are up to date.  I must also insert new annual and BOD minutes plus all the required financials.  Each packet requires hours of my attention to detail to ensure it is correct for each sale before it is distributed to those involved.

Obviously, to do this, I must communicate with the secretary and treasurer on our Board for each packet, as well as have someone look at the property.  I must communicate with the selling agent and the closing agent, and sometimes field questions from the seller or the buyer or buyer's agent, too.  All of this takes considerable time.

I believe the allowable fees for a disclosure packet are far too low in consideration of the time it takes to do a complete and accurate update for each sale.  If the DPOR and CIC wish us to have the best packets (which take considerable time and effort), we should be able to have a better compensation.  I have been told by real estate agents that our packets are better than many professionally managed associations.  Well, we take pride in our work for our community.

Please consider raising the fee to adequately compensate the Association for handling this complicated task as well as the professionals.  Thank you.

Sincerely,

Mary Page

CommentID: 209046