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foreclosure: Did you know that unpaid HOA dues can survive a foreclosure? - 06/07/11 11:22 PM
That's right, the foreclosure does not necessarily wipe out a lien for unpaid HOA dues. I didn't know that, and apparently, neither did Bank of America.
Here's the story. I represent a buyer for a house in Melody Ranch, Jackson Hole, WY. The seller is Bank of America, who acquired the house via foreclosure a few months ago. The previous homeowner quit paying their homeowner's association (HOA) dues months before the foreclosure, and the HOA placed a lien on the property for the unpaid dues. After the lien was filed, the bank foreclosed.
My buyer put the property under contract, and … (13 comments)
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foreclosure: Well, we almost had a closing today... - 06/03/11 11:29 PM
Except that the seller, a bank, decided at 4pm to contest the lien placed on the property by the homeowners association. The bank foreclosed on the property 5 months ago, and the lien has been on the property since foreclosure. Why did they wait until 4pm on the day of closing? Who knows. The title company says it's a valid lien, and the treasurer of the HOA confirmed the amount, again, today.
Sigh.
Perhaps we'll close on Monday. My buyer remained in good spirits. He is getting a GREAT deal on the house, so I suppose it comes with some hiccups...
… (4 comments)
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foreclosure: Jackson Hole: 15 E Deloney / Jackson Drug Building - 11/29/09 08:50 PM
This iconic Jackson Hole building is right on the Town Square, and was home to Jackson Drug for decades. Generations of visitors to Jackson Hole remember getting an ice cream shake at the famed soda bar in the building. Built in 1932, the building has a stacked stone foundation, a basement, and two floors above ground. The ground floor was home to the soda fountain and Jackson Drug, and the second floor had an apartment that was home to many generations of ski bums.
When the druggists decided to retire in 2001, we brokered the lease of the building with a … (9 comments)
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Tim Bradley, CCIM Jackson Hole, WY Commercial Real Estate
Jackson Hole,
WY
More about me…
Contour Investment Properties
Address: 172 Center Street, Suite 200, P.O. Box 1152, Jackson, WY, 83001
Office Phone: (307) 733-6400
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