Hampton Woods  
 
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closing letters
 

When you sell your house……
 
In order to assure a smooth transition to a new home owner, please make sure you communicate the following to your real estate agent:
 
Hampton Woods Bylaws call for an annual membership fee, currently established at $650. There is a limited membership of $525 which does not include the pool. However, this is no longer offered.   Only current owners are grandfathered with this membership type. All new families must join at the $650 level.
 
It is appropriate for the closing statement to prorate the current year’s membership payment. The payment is due each year by April 30 and covers the calendar year. As an example, if a home is sold June 30th, then it is appropriate to credit the seller for half a year’s membership on the closing statement. 
 
THIS PART IS VERY IMPORTANT.
 
As part of your closing, Hampton Woods will provide a letter stating that the seller is paid up, and no past money is owed (as long as this is the case).
 
In addition, each new owner must pay into a capital reserve fund, due the day of the sale. The current rate is $650, plus $35 administration fee. This fund is used for capital improvements of the neighborhood and is required with each home sale not sold within the same family.
 
Please contact our Membership Chair for home sale letters and capital reserve fee invoices.
 
FYI, the new homeowner will be welcomed into the neighborhood with a welcome basket valued at $50 or more.