In writing the recent blogs relating to transfer fees, the rumored bill raised many different arguments to the surface for and against transfer fees.
What is certain is that the anticipated bill, as reportedly proposed, is being met with strong opposition. CAI has opposed the introduction of the rumored bill, along with major management companies and the Real Estate Commission. These parties believe, regardless of what is contained in this bill, the bill should not be introduced. Interested parties continue to meet with Representative Labuda to explain their concerns, which in many cases, are warranted as the proposed “fixes” in the bill seem to be unworkable. In discussions I’ve had with interested parties, they believe there is nothing in this bill worth saving and whether or not this bill has any support at all.
If this bill is ever introduced, we will be sure to keep you apprised of its content.
The reason the fee should be granted is the person who pays the transfer fee is selling his home in the HOA and thus has no means of denying payment of the fee. This is a perfect example of extortion where fees are approved to exist. This proposed Statute can prove the Democrat’s failure to protect the Citizens of Colorado if the CAI’s finger prints are all over it.
A law passed allowing a $50.00 fee means within three years after passage the fees will be increased to $150.00 knowing it is illegal. They will just change the name to charges for “administrative costs”. Transfer fees must be denied any existence and the door will close and stop all future increases charges even if declared illegal by any laws passed by this legislation. No form of transfer fees must be specifically written into the Regs. of this proposed new Statute.
Jim Burneson