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When one makes an offer to buy a home that is in short sale and the current owner owes a balance for failing to pay his homeowners association dues who is legally responsible for the debt?
Wiki User
∙ 9y ago
Properly, the association could have filed a lien on the title against the original owner before the assumed bank foreclosure.
Once the bank assumed ownership, and for the duration of their ownership, the bank is responsible for assessments.
Your short-sale documents should be clear about your obligation -- if any -- to pay any past-due assessments, and/or how those monies can be deducted from the proceeds of the short sale.
Without a clear paper-trail as to your obligation, you may not be responsible for past-due accounts. Your personal common interest community attorney will be best prepared to review your short-sale documents and advise you.
Wiki User
∙ 9y ago
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