Jan. 11, 2011

Should I Continue To Pay My Homeowners Association Fees When Doing A Short Sale?

 

short sales help“Should I Continue To Pay My Homeowners Association Fees When Doing A Short Sale?”

When distressed condo owners stop paying HOA fees,  the consequences are inevitable.

The association could easily put a lien on your property and create havoc to your short sale negotiation

Another unintended consequences is that without the fees or enough fees, your association will not able to fulfill its obligations and even have enough money to pay for the utilities. In that case your condo or townhouse could become a toxic home for sale that no one would touch it.

Because of these cascading consequences, I always ask my distressed condo or townhouse homeowners to continue making the HOA / CONDO payments during the short sale process if they can manage.

Please Check This Video For More Clarifying Information

 

What To Do?

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Read my eBook about short sales below. .It will answer many more questions about short sales in general. .if you are contemplating doing one

The Short Sale Option
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An important question:
How much a short sale cost me Fernando ?:
SEE ANSWER HERE
Call Fernando Herboso Realtor® Associate Broker
240-426-5754 for a FREE Consultation.
What our clients say about us. .

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“Thank you Fernando  and Susan (Team Member)for EVERYTHING!  We are so relieved to be out of this mess and to be able to start over again.
It really has taken a load off of our minds and knocked down the stress level A LOT!  You were both completely on top of your game (and the mountain of paperwork) which made this entire process go so smoothly.  I really cannot believe that it’s OVER and everything did work out to our advantage.  We knew we were taking a gamble with the short-sale, but we really owe our success to you and your team.”

THANK YOU!  THANK YOU!  THANK YOU!
Amanda & Eric B

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“Herboso & Associates did an excellent job of listing my condo and handling the short-sales process for me.  Fernando is extremely knowledgeable and took the time to answer all my questions and concerns. He was efficient and took care of all the negotiating with the lender and the buyer.
California Client, A. Nguyen”

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Read my latest book www.AdiosLender.com here

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Disclaimer

The information contained in this website is intended to be used for informational purposes only and to provide a general overview of the topics described herein. There may be tax and other legal consequences associated with a short sale.  Herboso & Associates makes no representations or warranties concerning potential tax or legal consequences relating to any final disposition of any property in a short sale.

Homeowners are advised to consult with a tax professional regarding the potential tax consequences for their particular situation. Herboso & Associates are not Advisors and they are not a legal law firm. We strongly encourages all parties, agents, homeowners brokers and mortgage lenders involved in a transaction to seek such advice from a professional advisor.

Fernando is an Associate Broker and  founder of Herboso & Associates for MD, VA and  DC

Call Fernando Herboso Realtor® Associate Broker
240-426-5754 for a FREE Consultation.
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How To Prepare Your Family To Do a SHORT SALE ?

Maryland DC and Virginia  Short Sales Expert Specialist

www.Short-Sales-expert.com

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