lmc, Home Owner in Upper Marlboro, MD

Since there is no cap on the HOA fee in Maryland , what is the best way to get out of the property.

Asked by lmc, Upper Marlboro, MD Wed Nov 21, 2012

Hello all- Since there is no cap on the HOA fee in Maryland , what is the best way to get out of the property. I have placed my property on the market twice. The first loan didn't approve because of the delinquencies rate and the second was a cash buying that backed out because of a sprinkler systems concern..Now, the 2013 budget shows increase in dues from $275.00 to $352.00 per month a $3600 per unit special assessment. WOW WOW.. Please HELP! I need some advice quick or a lawyer.

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Hello Imc. Obviously you must mean you habw a condo fee. The big issue here is having an agent who knows how to market you property. That can only be done if he/she has knowledge of what this condo fee issue presents. Your home must be marketed to cash or conventional buyers only with specific information disclosed in the listing. Your agent (if you have one) must take command of this process. The other question is whether the property is listed correctly in terms of price and classification ( i. e. ) short sale or regular sale. If you need assistance I can be reached at 301-440-1489 or parkerteam4@aol.com. Happy Thanksgiving!
0 votes Thank Flag Link Wed Nov 21, 2012
Thanks for answering Mr . Keith and yes condo fee and no I don't have an agent YET. Thanks for the information because this is a big problem for me. I currently have a tenant in the unit and the lease is up in Aug 2013. I will keep your contact info because I need to sell this headache. Thanks for the advice and have a great Thanksgiving.
Flag Wed Nov 21, 2012
Ok first im assuming you mean condo fee and not hoa fee. Second almosr any home can be sold at the right price and the proper disclosures. Condos are being bought left and right with even higher fees and worse issues so no need to panic. Disclosing these things up front helps weed out buyers and pricing it right based on the issues of the home helps get it sold faster.Are you selling this yourself or with an agent? Most agents are aware of the condo issues so if youre not working with one I think you should at least do a consultation with one thats knowledgeable about condos to get a better picture of things. If you have any more questions feel free to touch bases with me at 301-337-7325. Hope this helps. -
Temi Akojie
Keller Williams Realty
Direct-301-337-7325
Office 240-737-5000
takojie@kw.com
0 votes Thank Flag Link Wed Nov 21, 2012
Yes, condo fee ans no I don't have a agent YET. Thanks for the kind words. I currently have a tenant in the unit and thelease is up in Aug 2013. I will keep your contact info because I will be trying to get this off my hands.. Thanks for the advice Ms. Akojie and have a great Thanksgiving.
Flag Wed Nov 21, 2012
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