Now first of all I have made mistakes on listings in the MLS. It does happen when we hit a wrong button or click the wrong selection on a pull down box. But never one that wasn’t corrected before an offer arrived and certainly not after a contract was ratified
Today one of my excited first time buyers received the HOA documents for her soon to be new home…or not. It turns out that the MLS listing that showed the HOA fee to be $150 a quarter is in reality $153 per month. As with most first time buyers budget is a big concern. A $100 a month difference in monthly fees is not something to take lightly and in this case it may mean that they will need to pass on this property.
When I talked to the agent they said they had no idea about the fees. This isn’t a foreclosure so the seller should know what fees they are paying every month, shouldn’t they? Needless to say this is a biggie and a costly one for the seller as the corrected monthly fees in the MLS will now probably scare away more first time buyers.