BULLETIN NO: 2024-09<\/p>\n
=e<\/p>\n
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BULLETIN DATE | March 15, 2024<\/p>\n
Pamela Bashline<\/p>\n
ISSUED BY<\/p>\n
INFORMATION BULLETIN<\/p>\n
Community Services Manager<\/p>\n
MUTUAL<\/p>\n
United Laguna Woods Mutual<\/p>\n
Community Services Division<\/p>\n
AUTHORITY<\/p>\n
Resolution 01-24-28<\/p>\n
ADOPTED DATE | March 12, 2024<\/p>\n
SUBJECTS: Revised United Resale Package Regarding Inspection Fee Increases<\/p>\n
NEWSFLASH \u2014- EFFECTIVE IMMEDIATELY<\/p>\n
United Mutual’s resale package has been updated with a date of 3\/15\/2024 to reflect the new<\/p>\n
inspection fees, as referenced in Informational Bulletin 2024-08.<\/p>\n
As a recap, on March 12, 2024, by way of Resolution 01-24-28, the United Laguna Woods Mutual<\/p>\n
board of directors approved to increase its resale inspection fees.<\/p>\n
Resale inspection fees have not been increased since 2007 (Third) and 2008 (United). A cost<\/p>\n
analysis revealed that a portion of the costs associated with the resale inspection process is not<\/p>\n
recovered from the requesting member; an increase in fees would serve to recover more of the<\/p>\n
administrative costs associated with the transactions. The new fees are as follows:<\/p>\n
First Inspection<\/p>\n
$360<\/p>\n
Reinspection (if required)<\/p>\n
$60<\/p>\n
Final Inspection (if required)<\/p>\n
$110<\/p>\n
No fee will be charged for a final inspection if, after the first inspection, there are no corrections or<\/p>\n
deficiencies discovered for the member to complete prior to the close of escrow.<\/p>\n
When a progress inspection is requested or when a request for a final inspection fails, the<\/p>\n
member will be charged the $60 re-inspection fee. In other words, if the member doesn\u2019t show for<\/p>\n
the first or final inspection and\/or if a correction is not completed when the inspector arrives for the<\/p>\n
final inspection, the reinspection fee will be charged.<\/p>\n
The first inspection fee will be billed as a chargeable service to the seller upon completion of the<\/p>\n
first inspection, and the reinspection and final inspection fees will be collected through escrow<\/p>\n
upon closing.<\/p>\n
The new fees are effective as of March 14, 2024 and the updated Resale Package is now<\/p>\n
dated 3-15-2024. These increased fees will affect pages 5, 8, 9, and 12 of the resale package as<\/p>\n
noted below:
\nPage 5 \u2014 The new fees are reflected as follows:<\/p>\n
Administration fee<\/p>\n
$350<\/p>\n
First Inspection fee<\/p>\n
$360<\/p>\n
$60<\/p>\n
Reinspection (if required)<\/p>\n
Final Inspection (if required)<\/p>\n
$110<\/p>\n
Escrow cancellation<\/p>\n
$112<\/p>\n
GREF facilities fee<\/p>\n
$7,500<\/p>\n
Additional fee for Recording of<\/p>\n
$280<\/p>\n
Memorandums for cash sale<\/p>\n
Failure to surrender ID cards<\/p>\n
$125<\/p>\n
Page 8 \u2014 In relation to the first and final inspections, resolution number 01-08-16 has been<\/p>\n
changed to 01-24-28 and the following sentence is added: \u201cRequest for Re-Inspection Report –<\/p>\n
Per Resolution 01-24-28, a re-inspection fee will be collected through escrow, if required.\u201d<\/p>\n
Page 9 \u2014 The effective date of September 1, 2018 has been removed. Under the \u201cCorrections by<\/p>\n
members\u201d paragraph, the last sentence will now read \u201cIf corrections are found to be incomplete<\/p>\n
at the final inspection, an additional re-inspection fee will be charged to the seller(s).\u201d<\/p>\n
Page 12 \u2014 On the Escrow Closing Notification and Remittance Report page, the following<\/p>\n
changes have been made:<\/p>\n
2(b) \u2014 Final inspection fee (if required) (United $110)<\/p>\n
2(c) \u2014 Reinspection fee (if required) (United $60)<\/p>\n
As a reminder, please always use the most recent resale packages and please delete all outdated<\/p>\n
United Mutual resale packages from your system, as forms are frequently revised and updated.<\/p>\n
Find the most recent resale packet dated 3\/15\/2024 by visiting lagunawoodsvillage.com ><\/p>\n
Neighborhoods > Realtor & Escrow Information > Resale Package and selecting United<\/p>\n
Laguna Woods Mutual.<\/p>\n
Realtors and escrow officers must inform their staff and clients of these guidelines.<\/p>\n
Important: Please always refer to the website for the most current documents. The location for all<\/p>\n
mutual policies may change with the completion of the redesigned website.<\/p>\n
Email alterations@vmsinc.org with questions about the new fees. Thank you.<\/p>","protected":false},"author":2,"featured_media":0,"template":"","document_category":[1227],"document_type":[53],"class_list":["post-49990","document","type-document","status-publish","hentry","document_category-realtor-info-bulletins","document_type-other"],"acf":{"document":47827,"resolutions":null,"legacy_id":"9300","pdf_extracted_text":""},"yoast_head":"\n