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Closing and move-in issues
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bgierisch15
Mueller Community

Posts: 252
Joined on November 9th, 2007
Closing and move-in issues
by bgierisch15 on December 2nd, 2007

Hey Meritage buyers!

Belinda says they will be closing 15-16 homes in December and another 6-7 in January. We close on Dec 10, and I think it might be helpful if Meritage closers got together to compare notes. If others agree, maybe we can have a discussion of closing and move-in issues at the next Mueller Neighborhood Association meeting, which is normally the 2nd Sunday of the monthy, i.e., a week from today. Let me know what you think.

So far the most important issue I've come across is that Prosperity (Meritage's preferred title company) put the large HOA charge (1/4 of one percent) in the Buyer column when it's supposed to be in the Seller column. That is, Meritage is supposed to pay it and Prosperity was charging it to us. This was an innocent mistake, and Belinda has confirmed that Meritage pays that charge, so I'm sure it will be corrected ... but it's worth checking when you get your closing statement. In our case it's almost $700 and we have one of the cheaper houses.

I'm sure others have experiences to share ... maybe we can learn from one another (what a concept).

Bobby
 
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henningspruth
Mueller Community

Posts: 488
Joined on October 20th, 2007
untitled topic
by henningspruth on December 2nd, 2007

I'll be very interested in this topic. My closing date is Dec 18th, and any information is welcome.

It would also be nice to hear about systematic issues that come up during the walkthrough.

Henning
 
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momof4
Mueller Community

Posts: 727
Joined on August 30th, 2007
untitled topic
by momof4 on December 3rd, 2007

We close on December 27th. So a little after y'all. I need to check into that HOA transfer number as I'm pretty sure mine was also put on the buyer's side when we signed prelimenary papers at Prestige. That is good to know info. I'll try to be there at the next MNA meeting although that is right in the middle of the Cherrywood art fair. Still, I'll pull myself away for a bit to come :) Do your houses look like they will actually be ready on your closing dates? Ours seems to be speeding along and seems like it will be ready sooner. Also, are you moving in pretty soon after your closing date? I'm just curious because I'm wondering how inhabited the area will be when we move in a few hours after we close.
Felicia
 
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langhugh
Mueller Community

Posts: 1149
Joined on August 18th, 2007
untitled topic
by langhugh on December 3rd, 2007

Thanks, Bobby. DW's Priority Home Mortgage is also making this "innocent mistake" and telling us that the HOA charge is ours to bear.

I found it interesting I was being charged coming and going. :)
 
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austinel
Mueller Community

Posts: 58
Joined on September 1st, 2007
untitled topic
by austinel on December 3rd, 2007

Whoa, I must check my contract -- I was told that the transfer fee was a flat $150! (Standard Pac)
 
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tj1407
Mueller Community

Posts: 178
Joined on December 3rd, 2007
untitled topic
by tj1407 on December 3rd, 2007

Can someone explain and/or give some background/back up on why the 1/4 should be paid by the seller? I'm getting a DW home and was ctold that was the buyer's responsibility.
 
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langhugh
Mueller Community

Posts: 1149
Joined on August 18th, 2007
untitled topic
by langhugh on December 3rd, 2007

This needs immediate clarification. With DW, we signed a document called...

"SPECIAL ADDENDUM TO REAL ESTATE PURCHASE AGREEMENT FOR MUELLER COMMUNITY - NOTICE TO PURCHASER OF MEMBERSHIP IN PROPERTY OWNER'S ASSOCIATION"

in that doc, we, as purchaser, agree to pay the .25% as follows,

"4. Community Assessment Fee. Upon each sale of the Property, a community assessment fee of .0025 (1/4 of 1%) of the total purchase price of the Property will be levied on the Purchaser, payable to the Association at closing and subject to adjustment from time to time by the Association."

To the best of my understanding, this fee supports the work of the Mueller Foundation effort to keep Mueller's affordable housing component solvent perpetually.

I personally don't mind whether the Purchaser or Seller pays this, but it needs to conform to one method across the development. Of course, I'm sure the builders mind, but the seller typically has more capacity to pay.

This must be detailed in a Covenant. Bobby, did you find reference to this fee in the Covenants? If so, do you have the chapter and verse? I will inquire about this at tomorrow's property owner's advisory panel meeting.
 
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bgierisch15
Mueller Community

Posts: 252
Joined on November 9th, 2007
Early Closers - Come to Sunday meeting
by bgierisch15 on December 5th, 2007

I want to encourage everyone who has a closing date coming up to attend the neighborhood association meeting this Sunday, December 9, at Asbury Methodist Church - 1605 East 38 1/2 Street from 3-5 pm. The agenda will provide time for us to share info and experiences on walk-throughs, closings, and move-in.

As we get into this uncharted territory, we're beginning to understand the reality of being pioneers (!), and I'm sure we can (and need to) learn from each other.

Hope to see you there.

Bobby
 
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eagertomove
Mueller Community

Posts: 119
Joined on November 23rd, 2007
Meritage Buyers
by eagertomove on December 15th, 2007

It has been a while since there was a posting on this topic. For those of us that haven't closed is there any new information that would be of benefit to any of us? When they send out a preclosing settlement statement is the 1/4% charge being handled correctly now? Seems like on our first settlement statement back in June it also had a year of prepaid POA fees collected upfront. We have never seen that done before in previous closings. Have any of the Meritage early closers used the 4 hours of specilized help they told us about? If so, how did that work out?
Eager
 
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bgierisch15
Mueller Community

Posts: 252
Joined on November 9th, 2007
untitled topic
by bgierisch15 on December 15th, 2007

At last week's Sunday and Tuesday meetings the .25% HOA fee was discussed. Based on those discussions, it appears that Meritage is paying the fee, DW is requiring buyers to pay it, and Streetman and Std PAC contracts do not address it ... so it's unclear if either party is paying for those last two. No info has been offered on Muskin or Saldano.

The fee is to support affordable housing and other community services and should be collected on every sale, thus providing funding for these services in perpetuity.

Personally, I think it is critical that its assessment be uniform across builders and on all subsequent sales. The integrity of the fee and its purposes is bound to be compromised if buyers and sellers come to view it as just another charge to be haggled over, it seems to me. Others seemed less concerned about the uniform application of the fee.

On another topic, I am now aware of three significant errors that have turned up in walk-throughs. In one home the wrong faucets and other hardware was installed; another got flat wall paint in place of the upgraded eggshell that was ordered; and one home had the wrong bathroom tile installed. So far as I know, all cases were corrected in one way or another, but it shows that important mistakes do happen. So walkers be warned - you paid dearly for those upgrades ... be sure you get them.

One other issue in at least two walk-throughs ... small weather stripping gaps (1/2 inch to one inch) around exterior doors.
 
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