To purchase a home in Forest Park, you must fill out a new owner application form. The application fee is $250 and will be reviewed by the board with an answer in 15 business days or less. If there is a need for an expedited processing of the application form, an expedite fee ($250) may be paid in addition to the basic fee to get an answer in 5 business days or less.
Each new homeowner must pay a $2,500 capital contribution to the Forest Park Master Property Owners Association Inc. This should be paid before closing or may be collected at closing.
It is recommended that each new homeowner request an Estoppel. The fee is $250 if requested at least 15 business days prior to closing. An expedited Estoppel is available for an additional $250. The expedited Estoppel will be ready in 5 business days. The Estoppel will show any outstanding balances the previous homeowner owes the association. If the buyer elects to close without obtaining an Estoppel and clearing the outstanding balances, the buyer will become responsible for all outstanding charges owed by the previous owner. Any property violations will also be noted on the Estoppel and if not corrected prior to closing will become the responsibility of the new owner in addition to any unpaid fines for the violations. Buyers should be aware that the association may place a lien on a property for unpaid dues or fines. Any buyer who buys property with an existing lien from the association will be responsible for all unpaid dues, fines, interest, collection costs, or legal fees.