BULLETIN NO: 2024-11<\/p>\n
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April 25, 2024<\/p>\n
Pamela Bashline<\/p>\n
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Resolution 03-24-40<\/p>\n
ADOPTED DATE<\/p>\n
April 16, 2024<\/p>\n
SUBJECTS: Third Resale Inspection Fee Increases \u2014 Effective May 1, 2024<\/p>\n
NEWSFLASH \u2014- EFFECTIVE MAY 1, 2024<\/p>\n
On April 16, 2024, the Third Laguna Hills Mutual board of directors approved to increase its<\/p>\n
resale inspection fees. Resale inspection fees have not been increased since 2007. An analysis<\/p>\n
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.<\/p>\n
The new fees are as follows:<\/p>\n
First Inspection<\/p>\n
$250<\/p>\n
$50<\/p>\n
Reinspection (if required)<\/p>\n
Final Inspection (if required)<\/p>\n
$90<\/p>\n
No fee will be charged for a final inspection if, after the first inspection, there are no corrections<\/p>\n
or 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 $50 reinspection fee. In other words, if the member doesn\u2019t show<\/p>\n
for the first or final inspection and\/or if a correction is not completed when the inspector arrives<\/p>\n
for the 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
Any resale packets received after May 1 will incur the new fees. These increased fees will<\/p>\n
affect pages 5, 7, 8 and 11 of the resale package which will also be updated within the next few<\/p>\n
weeks. We will notify you when the resale packet has been revised.<\/p>\n
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Important: Please refer to the website for the most current documents. The location for all<\/p>\n
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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-50143","document","type-document","status-publish","hentry","document_category-realtor-info-bulletins","document_type-other"],"acf":{"document":47982,"resolutions":null,"legacy_id":"9458","pdf_extracted_text":""},"yoast_head":"\n