Question:
Broker is selling a floreclosed property who is responsible for any or all delinquent HOA FEES THAT HAVEN’T been paid?
Is the bank responsible?
Or the buyer?
And to what portion of over a year?
– Thom
Answer:
Hi Thom,
If the bank placed the property in its name upon foreclosure, the bank is responsible for any HOA dues from that point forward. When the bank sells the property, the bank can charge those fees to the new owner. Once the new owner places the property in their name, they become responsible for any HOA fees thereafter.
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