San Diego, California
1.3K views
2 comments

When purchasing our house in Escondido ( we are happy with the house) we were forced to pay a Charitable Endowment Fee to the Lennar Charitable Housing Foundation to help support the homeless. We believe in charity so we paid.

When selling our house we received a bill from Escrow informing us that we now had to pay again. A total shock to us that we were not told about. It is a lien on the property. It is mandatory to pay this fee EVERYTIME the home is sold.

The charge is 1% of the sales price. So either we pay again, or the buyer must pay. I think this is total rip off. Something to make Lennar look good.

When buying a LENNAR house be aware of this.

A one time charge is one thing, but a recurring charge on each sale is a rip off.

Monetary Loss: $426.

Do You Have Something To Say ?
Write a review

Comments

You will be automatically registered on our site. Username and password will be sent to you via email.
Post Comment
Anonymous
#1348986

As the buyer, you should have not paid the transfer fee/endowment fee to Lennar. You should been informed that when you sell the property down the line you will be responsible for it. It is not a buyer's charge.

Your escrow officer made that mistake of charging the buyer and not the seller, when you purchase the property.

This is stated clearly on the agreement.

Anonymous
#1114031

These fees are disclosed to buyers in all of the homeowners association documents that are provided for review at the time of purchase (during your inspection period). It is stated in said disclosures that the fee is to be paid every time the home is sold.

It's up to the buyer and seller to negotiate who will be paying this fee at closing. It is .01%, so on a $500,000 sale the fee is $500