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Old 01-04-2011, 11:48 AM
 
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Hi!
Just want to make sure this is correct, are HOA fees due in advance as opposed to mortgage payments? Or maybe it varies from one HOA to another? A first month of HOA is reflected on the HUD statement for me (buyer) to pay.
Thanks for you help!
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Old 01-04-2011, 04:12 PM
 
Location: Laguna Niguel, CA
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At closing, you will usually pay a prorated amount of HOA dues in addition to the next monthly installment. The prorated amount would be however many days you will own the home that month, so if you close on the 17th of a 31 day month, you'll owe 15/31sts of the HOA fee (since including the 17th, there would be 15 days remaining). Since there may not be enough time for the HOA to send you a bill for the HOA dues that are due on the 1st of the following month, often that next month is owed at closing too.
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Old 01-04-2011, 05:05 PM
 
14 posts, read 34,313 times
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Thank you for the clarification!
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