Foreclosure in 33021>Question Details

Etti0629, Home Buyer in 33021

i bought a condo at the county auction the association told me that i owe 17000 for all the time that nobody pay. do i have to pay that ?

Asked by Etti0629, 33021 Mon Feb 6, 2012

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Everyday people grow by learning from their mistakes. "Due diligence" is a term used for a number of concepts involving either an investigation of a business or person prior to signing a contract on property". A title search should have discovered the lien easily, at a minimal cost.

There is a rule for banks where they can negotiate the past HOA fees to pay for the last 12 months only. Perhaps it only applies if the bank was the holder of the original mortgage, but i don't know the specific details. Contact a "Real Estate Attorney" and enquire if that rule can apply to your case. You can find a RE Attorney by contacting your local assocition and asking for a list of affiliate attorneys.

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Tony Vega
Charles Rutenberg Realty
1 vote Thank Flag Link Tue Feb 7, 2012
What you did is something many novice buyers do at auction, they do not search the title and assume what they're bidding on is the only lien. Consider yourself lucky for only owing $17k - I've heard of much worse.

To answer your question, yes you are obligated to pay it. As Danielle suggested, try to negotiate it down - many Associations will do so. However, not all will. On top of that, there is less incentive to negotiate with you because you are a new buyer and clearly not in distress like the previous owner. Good luck!

Tchaka Owen
Keller Williams Realty Professionals
954.552.6112
1 vote Thank Flag Link Mon Feb 6, 2012
Unfortunately Danielle is right. This is one of the risk of buying at the auction. Try to negotiate with the association .
1 vote Thank Flag Link Mon Feb 6, 2012
I hate to tell ya, but I think Danielle is right. In most places, a buyer at an auction is responsible for making sure the property has a clean title. So, if the condo association had a lien, it probably got carried along with the property. I would consult a real estate attorney, and if the attorney says you owe it, try negotiating with the association.
1 vote Thank Flag Link Mon Feb 6, 2012
It's a lien. When you buy at the auction you inherit all liens & assume responsibility for them. Have you tried negotiating them down with the association?
1 vote Thank Flag Link Mon Feb 6, 2012
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