Property Q&A in Concord>Question Details

Steve, Home Buyer in Concord, CA

how much is hoa fees?

Asked by Steve, Concord, CA Sat Jan 9, 2010

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A little more on what we learn about short sales from this question. Note Pacita says it's been Pending since November. That means seller accepted the buyer's offer in November, but from the buyer's perspective that means almost nothing, because the sale will not happen until the lender accepts the offer. So we're now into our third month after the seller accepted the buyer's offer and the buyer is still in limbo about whether they're going to buy this home or not. It may be another month, or even two, before the lender responds, and the response may be "no".

What can you do?

One possibility is to make offers on more than one short sale. I get asked all the time if that's legal. It is. You have to have an agent who's available close to 24/7, and you have to agree to buy the first one that accepts your offer. The agent has to be available so that s/he can cancel the "other" offer so you don't buy two homes. That's about it.

Making multiple offers doesn't shorten the time, but it may avoid getting stuck with a really long lender response time.
0 votes Thank Flag Link Sun Jan 10, 2010
The HOA is $270/mo as Pacita mentioned. Though this one is pending there are others available in that area. This is a competitive price range and the inventory moves quickly so I would suggest working with an agent if you're not already. That way you can be sure to find properties as or before they come on the market.

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0 votes Thank Flag Link Sat Jan 9, 2010
This condo is pending subject to lender approval. The HOA is $270/mo for common area maintenance, exterior maintenance, hazard insurance, and amenities that include a pool.

They have an offer accepted by the seller after just over two week on the market, and this has been pending (subject to short sale approval) since Nov 2009.

Hope this helps.
0 votes Thank Flag Link Sat Jan 9, 2010
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