Estoppel Requests

What does Estoppel mean?

It means that the ownership of a real property is stopping with the Seller (Owner) and will begin again with the Purchaser (Applicant).

In order to purchase real property, an estoppel request must be made by the purchasers Title Company. The information contained in an estoppel is used for compiling the costs for closing purposes. These costs and fees are found on the HUD Statement or Settlement Statement that you will receive at closing.

An estoppel will let the Title Company know if the maintenance fees are current, if there are any special assesments due and/or pending, thename of the Association insurance agent, violations against the subject property, etc. The seller is responsible for payment of the estoppel. 

When the applicant/purchaser is purchasing the property using a mortgage, A PUD Certificate or Homeowners Certificate is also required. This is a requirement of the lender. The lender will request this information to find out if the Association that you are purchasing in meets the criteria of the lender. Some of the information that they require will be finacial stability of the overall Association, total number of units, owner-occupied units vs. rentals, etc. The purchaser is responsible for payment of the certificate.

Costs of estoppel and / or PUD Certificates:

First Choice Management charges a fee to certify the information that we are submitting to the Title Companies and / or Lender is true and correct to the best of our ability. The fee is: $150 - $300

If the estoppel request is received prior to 1:00 p.m. It will be returned to the Closing Agent by 5:00 p.m. of the same day. If the request is received after 1:00 p.m. It will returned to the Title Company the next business morning.

Please remember that First Choice Management now offers credit card service - we accept MasterCard and Visa and Amercan Express.

If the applicant requires an estoppel of PUD / Condo Certification, please direct them to Sales and Leasing department. We will then fax to them the requirements for completion.

Checks must be made payable to First Choice Management and sent to us, with your forms to:

First Choice Management Group, Inc.
6485 N. Federal Highway
Boca Raton, Florida 33487