Dear LD,
Before agreeing to pay the HOA on a short sale I recommend you have your agent ask the listing agent if the seller has tried to negotiate a settlement with the HOA for less than what's owed, what the result was, and for documentary evidence of such.
This recently happened to someone I know and following this advice they were able to save about 50% from what they expected to pay. It's not unheard of for the HOA to accept 10 cents on the dollar as they are able to spread the cost among the remaining membership.
Feel free to contact me for further information.
Samuel Gabe
REALTOR/Service Consultant
Halstead Property Wheeler
671 Boston Post Road I Darien CT 06820
Direct: 203.656.6518 I Cell: 203.856.8399 I Fax: 203.655.9857
sgabe@halstead.com I halstead.com
Halstead Property Connecticut, LLC
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Why Halstead?
http://www.youtube.com/watch?v=6v9v96B8i48 - Sun Jan 31 2010, 12:18