Short sales can take a longer time to close and there is no guarantee after waiting for a bank response that they will accept your offer. You have to be patient and willing to accept the outcome.... more
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Both the you and the property are liable for unpaid dues if there was an assessment Lien filed. If an assessment lien was filed and then title would not have issued a title insurance policy without that lien being satisfied.
You'll need to check your paperwork, here is what you want to look for.
The estimated HUD statement that was prepared for the loss mitigation apartment at the time it was first submitted, typically with the offer. This statement would include all the items needed to be paid off to complete a short sale. The loss mitigator, looks at the HUD statement and determines if the net amount left over is agreeable to the bank. If that statement was prepared without the total delinquent HOA dues and there was no assessment lean filed then you want to look for the following.
Any indication that the buyer paid for the delinquent dues.
Any indication that the real estate agents reduced commission to offset the delinquent dues.
A letter or agreement from the HOA waived or reduced the delinquent dues. A release from the HOA for those delinquent dues should have been issued.
Also read the approval letter for your short sale from your lender and see if there was any instruction regarding HOA dues. Again, that estimated HUD statement that was issued to your lender to show them what all the costs and fees of the sale would be, should have included the delinquent HOA dues. That is first place I would look and then see what happened after that.
For those contemplating a Short Sale I wrote the following article for Sellers: http://homebuysblog.com/2009/11/09/what-is-a-short-sale-can-i-short-sell-my-home/... more