Your Esptoppel Page

Is there an online Form?

Yes there is , click here :) It contains all things Estoppel.

To what address do I mail the check?

Po Box 770808, Orlando, FL 32877

What is an Estoppel Certificate? 

If you are selling a property governed by a homeowner’s association, the buyers lender must receive an estoppel letter from the HOA prior to the closing. The purpose of the estoppel letter, a legally binding document, is finding out whether the seller has any outstanding balances owed to the HOA. Such balances could end up with the HOA putting a lien on the property.

Is this legal?

Yes. Senate Bill 398 (SB 398)  is the law referring to which impacts community association estoppel certificates and was signed by Gov. Scott on June 14 2017, becoming effective on July 1 2017.  The bill requires far more information than a standard payoff and disclosures based upon an analysis of certain provisions of a community association’s governing documents. Also see 2017 Florida Statutes Chapter 720 Section 30851 Estoppel certificates

Do they affect title insurance?

A homeowner provides the buyer with a warranty deed at the closing, which shows the owner has a clear title to the property and the authority to sell it. Title insurance guarantees this deed. However, title insurance companies will not issue such policies unless they know there are no liens or other encumbrances on the property. When it comes to title insurance for a property in an HOA, the title company must make sure there are no outstanding balances.

How does it really affect the real estate transaction?

For the lender, the estoppel letter shows that the property for which they are lending the funds meets their lending regulations. Because the letter shows fees charged against the current owner, the lender can determine whether the seller ever made unauthorized changes to the property that required correction. For the buyer, the estoppel letter shows whether there are current fees outstanding, and the lender will let them know that these fees are not transferred to the deed at closing, as they are the seller’s responsibility. The estoppel letter must be received before closing can take place.

How much does it cost and who pays for it?

Normally the seller of the property pays for the estoppel certificate. However, this can be negotiated between the seller and buyer or the real estate agents assisting them in the transaction.

Preparation and delivery -  $250.00

Expedited Request and delivered within 3 business days - $100.00

Delinquent unit subject to additional fee - $150.00

Spring Lake general assessment fee due on or before Mar 15th - $200 per year.

How will they be delivered?

They will be analyzed by our Estate Board member and Treasurer. Once approved they will be sent out by Email.

How many days in advance should I request an Estoppel Certificate?

By law an association must respond to a request for an Estoppel Certificate within 10 business days.

Additional Questions? 

*** Online Request Form is available with this link *** 

If you have additional questions, you can request answers by contacting Spring Lake HOA at springlakehoa189@gmail.com. We will gladly respond within 24-48 hrs.