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Old 09-23-2009, 09:21 AM
 
1 posts, read 2,946 times
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I'm involved in buying a condo near Lake Arrowhead (San Bernardino County) that is a "Short Sale". As we get closer to closing, new issues arise. I was told that the seller has not paid HOA fees for a couple years and can only cover about half of the amount currently due.

I'm being asked to cover the other half, about $3K, in order for escrow to move along. There is NO HOA lien on the property.

My question is.... Don't the back HOA fees remain attached to the seller much like a past due electric bill would? Why would they have to be settled in escrow if there is no lien on the property. I searched the forum, couldn't find an answer. Your insight is appreciated.
Thanks,
Dennis
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Old 09-25-2009, 08:22 AM
 
Location: Colorado Springs, CO
1,570 posts, read 5,985,295 times
Reputation: 1405
The short answer is Yes.
However, all costs are neg. and this is a distress sale. The lender is taking a hit on the amount due them, the seller is darn near broke ... that may leave you to make up the difference if you want to proceed with the sale.
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