Major Change to Sun City West Asset Preservation Fee
I wanted to let you know right away that there has been a MAJOR change as of today in the process for the Sun City West Asset Preservation Fee. This change affects current and future homeowners.
3.3 The Asset Preservation Fee shall not apply to current Owner Members who sell their home to purchase and change their primary residence from one unit to another in Sun City West
3.4 The Asset Preservation Fee shall not apply to former Owner Members who purchase and close on a new primary residence within one year of the close of escrow of their previous Sun City West primary residence.
The biggest change will be that the Owner will have to pay the Sun City West asset preservation fee of $3,500 up front on a purchase of a new primary residence if they haven’t closed escrow on the old home. Within 1 year of the purchase of the new home they sell the old one they can bring in a copy of the Settlement Statement and get a refund.
When you purchase a home in Sun City West, usually the title company will collect the asset preservation fee and send the payment to the community. It will be up to the homeowner, once they purchase a new home within the community to ask for a refund.
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