What’s All This Fuss About the Resale Fee?
This is important information if you’re considering a move to Leisure World, or considering selling a Leisure World home.
The latest Leisure World News carries an important piece from the Board Chair on the community’s Capital Improvement (resale) fee — its history, why it exists, and the discussion now underway about raising it again. Read the full article here →
Why This Matters If You’re Buying
The resale fee is customarily paid by the buyer at settlement, currently 3% of the purchase price. Any increase raises your upfront cost directly — buying before a new rate takes effect locks in today’s lower fee.
Why This Matters If You’re Selling
Because the fee is customarily the buyer’s cost, any increase adds to what a buyer has to budget for — which can put downward pressure on what they’re willing to offer for your home. And if you’re a current owner planning to sell and then buy another unit within Leisure World, you’ll pay the resale fee again on the purchase side. That makes the timing of any increase a concern on both ends of a move.
Associate Broker, The Encore Team at RE/MAX Realty Services
Cell: 240-351-8214 · Office: 240-403-0400 x319
Charlie@TheEncoreTeam.net
