Title Company Information
WORKING CAPITAL / ADMINISTRATIVE FEE
The District charges a $100 working capital fee on each home at the time of sale within the Lupton Village Residential Metropolitan District. The fee is used to cover costs incurred by the District related to turnover of property owners within the District. Such costs include providing information to and answering questions from real estate agents, title companies and buyers/sellers regarding the District, covenants and the Lupton Village Community.
Through its management company, the District provides status letters to title companies. The purpose of the status letter is to provide buyers and sellers of homes within the Lupton Village Residential Metro District with various District-specific information including (1) whether there are outstanding covenant violations and/or fines attached to the lot, (2) whether any outstanding litigation exists against the District and (3) the amount and nature of any fees, fines or reimbursement assessments (excluding property tax assessments) payable to the District. All status letter requests should be submitted online through www.homewisedocs.com.
The District Board does not reimburse its management company for fees and other costs incurred by the management company related to ownership changes of Lots within the District. Consequently, the District Board has authorized its management company to charge a transfer fee directly to all new home buyers within the Lupton Village Residential Metro District.
The purpose of the transfer fee is to cover costs incurred by the management company related to (1) setting up a new homeowner information files and and property ledgers on the management company’s software and database, (2) closing the former owner’s files and accounts in accordance with the District’s document retention policies and (3) providing information support to new homeowners within the District regarding the covenants, District rules and regulations and public services provided by the District. Please contact the District’s management company for a current quote on the transfer fee. The transfer fee is payable directly to the District’s management company.