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Condominium Short Sales - look out for extra charges

Posted by DanaVoelzke on December 29, 2009 at 11:59am in Short Sale Discussions
At my short sale closing last week at the 11th hour we found out that the condo associated billed the homeowner approx. $300 for the association's attorney to review the lis pendens that had been filed due to the foreclosure. Of course condo associations can bill you for whatever the association agrees on, but the fact that this showed up at the 11th hour WITH NO NOTIFICATION WHATSOEVER TO THE HOMEOWNER, I was just glad that we found a solution for it to keep the transaction together. The key to finding out about this was ordering the resale certificate in advance and good communication with the homeowners' association. This was a new one for me, so I figured I would share in hopes that this might help somebody else.

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Tags: condominium, fees
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Replies

  • Celeste ODea January 3, 2010 at 8:41am
    Need to order the resale docs or call the condo management company. We just closed on a short sale last week. The condo assn turned over the account to a collection attorney with an amount of $4,950 with no notification to the homeowner. Also, this property had a front foot utility charge of $706.26 that was turned over to an attorney. Both fees had to be paid or there would be no closing. We negotiated for 2 weeks and finally got the condo assn attorney to accept $1,800 - we told them that's all we could scrape up. We got the bank to pay the $706.26. Worked on this short sale for 1 year + 22 days, so we were determined to make it "happen"!
  • Lori Young December 30, 2009 at 6:52am
    Oh I see this lots of times on files. All these last minute fees are BS. The banks are on to this scam.
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