Service & Information Fees
This page provides general information on service fees for Fairway Oaks Condominium Inc.
For questions, contact us at office@fairwayoaksinc.com
Payment Information
Payment must be made to Fairway Oaks Condominium Inc. by personal check, cashier's check, or money order, and may be mailed to the office or deposited in the office Dropbox located on the front wall.
Occupancy Approval — Required
To remain in compliance with condominium rules, occupancy approval is required in the following situations:
- New Owner: Approval must be obtained before closing on the property.
- New Tenant: Approval must be obtained before signing the lease and before move-in.
Please plan ahead to allow sufficient time for the approval process.
Application Fee
Possession or occupation of any unit CANNOT BE AUTHORIZED until Fairway Oaks completes its investigation and gives its approval to the owner/tenant in writing.
Estoppel Certificates
An estoppel (resale) certificate confirms a unit owner's current financial standing with the association. It is frequently required during property sales or refinancing.
Estoppel charges — §718.116 (Condo)
§718.116 (Condo) governs estoppel certificate fees. As of 2022–2027, max fees are:
- Maximum Fees: The base fee for a basic certificate is $299.
- Delinquency Fee: If account is delinquent, an additional fee of $179 can be added.
- Expedited Fee: If requested within 3 business days, additional $119 can be charged.
- Maximum Total: A standard, non-delinquent certificate is capped at $299. A delinquent, expedited certificate has a maximum cap of $597 ($299 + $179 + $119).
Validity: Certificates are valid for 30 days, or 35 days if delivered by mail.
Multi-unit Discounts: For multiple units owned by the same owner, the total fee is capped at a lower, aggregate rate (e.g., $896 for 25 or fewer units).
Refunds: A written refund request can be submitted if the closing does not occur.
Adjustment: Fees are adjusted every 5 years by the Department of Business and Professional Regulation.
Lender / Condo Questionnaires
Required by financial institutions when a unit owner is securing a mortgage or refinancing. We ensure your lender receives all necessary documentation promptly.