Important Information for Closing Companies & Real Estate Firms
Property Transfer Requirements
Agents and officials of companies involved in transfers of property in the Eaglesgate sub-division play a vital role in assuring the fiscal well-being of the community. The Eaglesgate Community Association appreciates the cooperation of closing and title companies and real estate firms in informing prospective buyers of Association requirements regarding the transfer of property.
These requirements flow from Declaration of Covenants, Restrictions, Easements, Charges, Assessments and Liens for Eaglesgate, LLC as well as Association policies.
At or before closing on property in Eaglesgate, buyers should be informed of these requirements. Pro-rated dues and transfer fees should be collected and forwarded to the Association. Companies are asked to make sure their colleagues are aware of these requirements. They include:
- Eaglesgate’s annual dues are $450, due on February 1, of each year. If a home is being rented, the dues will be $800 per lot. The dues collected at closing should be pro-rated on an annual basis.
- A transfer fee of $250 also should be collected. This fee covers administrative fees incurred by the Association when property changes owners.
- Some properties may have Association liens against them. The Association must release the liens and the lien amounts must be collected before the closing can proceed.
- Dues do not cover trash service.
- All new property owners should be apprised of and consent to the Association’s Covenants; if they are not provided a copy in advance of sales, they should be referred to the Electronic Copy of the Covenants .
The pro-rated dues, transfer fee, and lien amounts should be paid to:
Eaglesgate Community Association
1717 East Republic Road, Suite A
Springfield, MO 65804
If you have questions about these or other Eaglesgate policies and requirement, please email firstname.lastname@example.org.
Last updated November 28, 2017
Dues and Fees
The annual property owners’ dues (Assessments) are required by the Covenants to provide the revenue needed to conduct the Association’s business. Those dues are collected at the beginning of the budget year, which is the calendar year for the Association.
The majority of residents pay their dues on time, but the Association still needs incentives, such as late fees and penalties, for the few each year who do not pay their dues on time. If there is a significant drop in revenue flow between the end of the previous budget year and the new budget year, the Association will not have the necessary funds to fulfill its contracts and obligations, provide necessary services, or to keep the neighborhood running as residents expect and deserve.
To provide incentives for paying dues on time, Section 4.05(c) of the Eaglesgate Covenants states that if a property owner fails to pay by the delinquency date:
[S]uch unpaid amount shall become a binding personal obligation of such Owner, and the Association shall have the right, pursuant to the provisions of Section 15.03 hereof to enforce the lien for Assessments imposed by Section 4.01. The Association shall have the right and duty to take all appropriate actions and steps to collect any such unpaid Assessments.
That section further states that the Association “may institute a suit to recover a money judgment for the same, together with interest thereon and reasonable expenses of collection, including attorney fees....”
Here are the steps in the dues collection process:
- The deadline for annual dues is February 1. The Association will send out invoices by email and mail on or before January 1.
- Residents whose checks have not arrived at the Association’s management services office by February 1 will be sent a late notice.
- Residents who have not paid their late dues by February 15 will be sent an invoice for the dues plus a late fee.
- If the dues and late fees have not been received by June 1, residents also will face loss of Eaglesgate membership privileges (voting rights, pool, tennis and basketball court, clubhouse rental, community events, etc.), as well as the possibility of a lien process against their property, and other Right of Action measures provided for in Article XV of the covenants.
Posting of Signs in Eaglesgate
- Guidelines for posting of For Sale, Open House, and other such signs in the Eaglesgate sub-division must be in compliance with Section 5.11 of the Eaglesgate Development Guidelines, found in the Documents tab of this web site.
[Link to Section 5.11]
Last updated July 14, 2017