who is responsible for hoa's or maintenance fees on a foreclosed/repossessed/delinquent unit(s)?

Rob
Home Buyer
Jupiter, FL

do they increase the amt. of the paying owners(fees or assessments) and/or deplete the reserve fund?

Answers (2)
Tom Priester
Agent
33458

Rob,

Unfortunately, in most cases these unpaid fees are not recoverable by the HOA. HOA fees are a subordinate lien to mortgages, property taxes, etc. and that is why there are associations that are having budget problems. In some neighborhoods and buildings it is a significant problem that is causing the association to charge paying members of the association to pick up the tab through special assessments. Others will cut services to get the budget back on track.

I hope this information is of help but if you have additional questions, please feel free to call me at 561 308-0175 or shoot me an e-mail at tom@tompriester.com and I will be happy to be of service.

Tom Priester
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com

Thu Jun 4 2009, 09:38
Dawn Smith
Agent
33411
FIRST ANSWER

The new buyer is only responsible for fees after they have closed. Prior to closing, the title company requests an estoppel from the HOA that includes both maintaintence fee balance and any assessments. These are paid by the seller on the closing statement.

Thu Jun 4 2009, 06:34

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