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Andrew J. Courts, Jr.
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In addition to representing Buyers and Sellers in residential transactions throughout Greensboro, NC and Guilford County, Andy divides his time between
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Testimonials:
"We just closed on our first home. Andy was marvelous. We had to overcome a few issues. His background in mortgage helped us out big-time. Always friendly
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Andrew J. Courts, Jr. answered:
Jun,
There are many townhomes available in the Triad, I would advise pursing others. Only if you could not find another one would I come back to this situation. Generally speaking, the owner (in this case the bank we assume) will have to pay the arreages of the HOA dues. The larger problem is that basic maintenance on the property might be deferred or suffer in quality for a long time until the market absorbs the complex. You might ask for a years worth of HOA dues in the Offer. You are responsible for the dues if you purchase the property. In any event, good luck. andy
There are many townhomes available in the Triad, I would advise pursing others. Only if you could not find another one would I come back to this situation. Generally speaking, the owner (in this case the bank we assume) will have to pay the arreages of the HOA dues. The larger problem is that basic maintenance on the property might be deferred or suffer in quality for a long time until the market absorbs the complex. You might ask for a years worth of HOA dues in the Offer. You are responsible for the dues if you purchase the property. In any event, good luck. andy
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