What does Estoppel mean? ... It means that the ownership of real property is stopping with the Seller (Owner) and will begin again with the Purchaser (Applicant). What does this mean to the Purchaser or Seller? In order to purchase real property, an estoppel request must be made by the purchasers Title Company. The information contained in an estoppel is used for compiling the costs for closing purposes. These costs and fees are found on the Settlement Statement that you will receive at closing. An estoppel will let the Title Company know if the maintenance fees are current, if there are any special assessments due and/or pending, the name of the Association insurance agent, violations against the subject property, etc. Responsibility of payment for estoppel is of the Seller.
Estoppel requests are to be paid in advance. There is a fee of $299 for all questionaires and estoppels. You may mail or fax it to us. Forms will not be returned until payment has been made and/or Board approval for specific associations has been granted. Checks must be made payable to Southern Shores Management Inc. Please include your payment with your forms and mail to: TO: Southern Shores Management Inc. Attn: Estoppels Department 6801 Lake Worth Rd. Suite 350, Greenacres, FL 33467 _______________________________________________________________ Currently,the fees for the preparation and delivery of an estoppel certificate are noted below for condominiums, cooperatives, and homeowners’ associations:
Please see below estoppel certificate fees.
- Preparation and delivery of an estoppel certificate is $299
- Requested on an expedited basis and delivered within 3 business days an additional $119. If the unit/parcel is delinquent to the association an additional fee of $179
- For multiple units/parcels owned by the same owner which are simultaneously requested from the same association, and there are no past due monetary obligations owed to the association, the total fee - 25 or fewer units/parcels, $896 _ 26 to 50 units/parcels, $1,194 _ 51 to 100 units/parcels, $1,791 _ more than 100units/parcels, $2,985
