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Archive Monthly Archives: September 2014

Don’t Lie About Your HOA Fees – Your Agent, Bank and Title Company Will Find Out

Don’t Lie About Your HOA Fees- Your Agent, Bank and Title Company Will Find Out 

When you are selling your home in Florida as a short sale you still have to pass clear title to your new buyer. 

Wellington Fl Short Sale Agents - Florida Short Sales- HOA Fees Short Sales

The title company is going to do a search for any defects on your title such as liens from your HOA ( Homeowners Association) or Condo Association. 

The title company also has to order an “estoppel letter” from your HOA. This is a document that contains the verified information from your HOA about what you owe and whether you are current or not. It will contain the amount of money that is going to have to paid to the HOA before they will issue a clearance. 

When you list your property with a Wellington short sale agent come clean with us on what you owe and to whom you owe it to. If you say that you are current on all of your HOA fees we are passing that information along to the title company who is then going to need to verify if this is true. So why lie? It won’t help you- in fact, in many instances it can come back to hurt you. 

In the state of Florida your mortgage servicers are only required to pay up to a certain amount of your delinquent HOA fees. So that leaves the rest on who? 

Telling the buyers at the last minute that they are going to have to pay your HOA fees is a great way to kill your short sale. 

You are the one that is responsible for your HOA fees. Make sure that you are at least being honest in what you owe and for how long you have not been making your HOA fees. 

Remember also, that in the state of Florida, the HOA can foreclose on your house WAY before the bank does! 

Contact Nestor Gasset and Katerina Gasset at 561-753-0135 for a confidential phone interview about your option to do a Florida short sale.