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Workspace ClosingVue
Created by Pamela O'Steen
Created on Mar 1, 2024

HOA dues proration for charge to Buyers

I work with Builders/Sellers a lot and when it comes to HOA dues for these new construction homes I need to be able calculate and add HOA dues to the Buyer side only. Builder/Seller that build in new developments/subdivision do not pay HOA dues. Once they build a home and sell it to a Buyer, the Buyer pays HOA dues from date of purchase through end of time frame that they are due (monthly, quarterly, etc.) Example - HOA dues are due monthly - purchase date is on the 5th of the month, the proration sum from the 5th to last day of the month needs to be calculated and charged to the Buyer. A proration section that would calculate for that time period is needed.

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