Related question. As a buyer, one of our closing fees was proration of the annual HOA dues back to the seller. (Seller had already paid a full year.) This was essentially money out of our pocket back to the seller. ( I have no problem with understanding that the seller only pays for the portion of the year they owned the home.) But we then received a bill for a full year from the HOA. This means that we basically pay for 2/3 of a year (to the seller) plus a full year to the HOA. Or, to look at it from the HOA's perspective, the HOA received a full year's dues from the seller and now receives a full year from us (the buyers.)
Does the HOA actually make extra money off this? More than a year's worth of dues? Am I missing something?
Allan Lovinger is a realtor in Las Vegas and if you ask me he's terrible lazy stupid and arrogant to it being funny. He doesn't own rentals himself but mismanages them for owners and gets the worst possible tenants that will destroy your property.... more