With high HOA fees, what will happen? (Surfside: for sale, condo)

[City Guy997S]

Originally Posted by blueskies2023

Was told it could take years. One of the non paying (and breaking serious rules of the property) has filed counter suits of alleged discrimination.

ehhhh the right firm files the lien, waits 90 days and files the foreclosure then that really fast tracks the idea that "if you don't pay, you go!"

[blueskies2023]

Originally Posted by City Guy997S

ehhhh the right firm files the lien, waits 90 days and files the foreclosure then that really fast tracks the idea that "if you don't pay, you go!"

No --In more than one case at current property, it has been over a year and they are still in the property.

[City Guy997S]

Originally Posted by blueskies2023

No --In more than one case at current property, it has been over a year and they are still in the property.

The paperwork can be done a a day, the foreclosure is a longer process but if the owner wants to stop it then they have to pay the fees (both legal fees and HOA dues) in full. If it goes the whole way, they get the judgment and the owner is evicted in 5 days. HOA can then sell the unit and pay itself back with proceeds.

Crazy part if anything is left over after paying off the mortgage/HOA they have to give the leftover money to the former owner. So if the condo is worth 100K net, the HOA is due 12K, the legal fees are 10K and they had a 50K mortgage then they would get a check for $28,000

[blueskies2023]

Originally Posted by City Guy997S

The paperwork can be done a a day, the foreclosure is a longer process but if the owner wants to stop it then they have to pay the fees (both legal fees and HOA dues) in full. If it goes the whole way, they get the judgment and the owner is evicted in 5 days. HOA can then sell the unit and pay itself back with proceeds.

Crazy part if anything is left over after paying off the mortgage/HOA they have to give the leftover money to the former owner. So if the condo is worth 100K net, the HOA is due 12K, the legal fees are 10K and they had a 50K mortgage then they would get a check for $28,000

Nope. I can tell you that one so far has held it up for a long time citing racism defense with fierce attorneys and 1. hasn't paid dues in a long time (not disclosing here length of months or years) and 2. still lives in unit and comes and goes at leisure. This is a fact as I know who this person is and I live in same building.

[LakeWorth]

People will start defaulting on their annual dues because they can't pay, the HOA will put a lien on the defaulted properties and services to the rest of the owners will suffer because the HOA reserves will be down

[blueskies2023]

and let's face it, the lights have to be on , streets cleaned there, staff paid and your already high hoa, now higher. When tenants stop paying dues owed, the rest of us have to pay more.

[blueskies2023]

Delray Beach, FL 33446
2
beds

2
baths
883
sqft
Est.: $1,701/mo
Get pre-qualified
Condominium
Built in 1974
-- sqft lot
$138,100 Zestimate®
$168/sqft
$836/mo HOA

THIS is the new. norm south florida: 836 in hoa fees. 836. Add a few assessments as we know they have them coming 2024

[biscman]

Which condo association is this. I live at The Pines of Delray and our was just raised for 469.00 to 629.00 per month with a additional insurance assessmnet of 1700.00 per unit. All we have is a outdoor pool....

[blueskies2023]

Originally Posted by biscman

Which condo association is this. I live at The Pines of Delray and our was just raised for 469.00 to 629.00 per month with a additional insurance assessmnet of 1700.00 per unit. All we have is a outdoor pool....

south florida condo hoa will continue to rise and is this really home ownership? We are at the mercy of the boards decision to replace or add this and take away that. You'll easily drop $1k a month/12k a year on HOA fees alone.

[rainroosty]

We're still living well in our happy. affordable home that you fellow members called out to
be a non-existant lie.