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Buying or Selling a Home/HOA not disclosed at time of purchase
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Question
Hi Jim,
We bought a single home back in May 2009 and recently we just received a bill from the HOA with the amount of $225/year for a community swimming pool. We are not awared of such HOA at the time of purchased. So we contacted our agents (both seller and buyer agent) and none of them were awared of it. Then they pulled out a TDS form which has a section with very small HOA checkbox checked. Other than that, the HOA amount was not specified on any documents at close of escrow. We believe this was done intentionally by the seller to hide this HOA at time of purchase. It was also the agents' fault for negligence, and we as buyers are paying for it. We have email document from the agents saying they were not aware of this at time of purchase. So my question is, do we have a case and if we want to sue, who should we sue? Thanks so much for your response.
Hi JENNA--
"Do we have a case and if we want to sue, who should we sue?" You're asking for a legal opinion, advice and guidance! To provide you with
that I would be "practicing law" by the very definition of "Attorney" or "Lawyer!" So, I CAN'T answer those questions specifically.I AM NOT AN ATTORNEY!
It seems to me that there are LOTS of real estate, title & mortgage people involved in your lack of knowledge of the HOA and any dues/fees that you would acquire along with the purchase of the home!Bottom line, though is YOU are guilty of not reading "the fine print" on the Form that included info on the HOA, and demanding an explanation ,costs/fees, ETC. So, you have to take SOME of the blame.
I DOUBT if you'll find a Lawyer to take such a case, as it doesn't ' amount to a great deal of money for him/her --OR you!In fact, a lawsuit may cost you MORE money,time & energy than you get if you win!But if you think $18.75 a month for use of a Community Swimming Pool won't break you. "but it's the principle" of the matter, consult with an Attorney about suing one or more of: the Seller, the Realtors, the Mortgage Lender,Title Company, the Appraiser and/or the Home Inspector.
If I were you, I'd consult with a Lawyer on this matter,especially if I wanted "out of the deal" due to FAILURE TO DISCLOSE, but if I wanted to retain the Home,I'd just write a $225 check to the HOA for this year's use of the pool--and I'd soon be sitting poolside with a cold drink.
GOOD LUCK,Jenna!
--JIM
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Jim Root
Expertise
How to select the right Real Estate Salesperson & Loan Officer--ones who will serve your best interests! House-hunting tips & suggestions on selection of the home best for your family needs. Introduction to the Home Buying Process & all the "Players" involved.What is of utmost important to the Homebuyer? Real Estate Contracts & Negotiations, Appraisal needs, Title Co. involvement, Home Inspection issues& the Closing/Escrow systems, etc. Whatever your question, the answer will follow, whether from personal knowledge or research! Gale, shown here with me, has been a Real Estate Office Administrator, licensed Realtor & has served as my Research Assistant over the years!
Experience
Over 30 years as a "Real Estate Professional." including Real Estate Marketing & Sales, Appraisal work, Mortgage Banking & as a Realty Officer with U.S Dept. of HUD's FHA Homeownership Division in Alaska, Washington & Idaho! Some experience in Montana, California, Utah & Nevada markets!Knowledge of National Markets by continuous Research!
Organizations
Former member of Nat'l Ass'n of Realtors (NAR) & Mortgage Bankers Ass'n of America (MBAA). Currently with National Association of Review Appraisers & Mortgage Underwriters (NARA/MU).
Publications
Published in various local, state, regional & national Real Estate-related magazines & newsletters!Co-author of various Govt. publications on Homeownership, Appraisals & Mortgages while with HUD/FHA.
Education/Credentials
Associate Degree in Real Estate Studies plus:
Numerous Real Estate-related Courses conducted by the U. S. Government & Private Industry over the past 30 years.
Bachelors Degree in Mass Communications,
Masters Degree in Education/Teaching
Awards and Honors
Professional Designations: Certified Residential Originator (CRO) from MBAA, Registered Mortgage Underwiter (RMU) & Certified Review Appraiser (CRA) from NARA/MU. Outstanding Peformance Awards for 10 of the 12 years with HUD/FHA & numerous Sales/Listing Awards while a licensed Real Estate Agent.
Past/Present Clients
No longer selling/listing Real Estate, nor Appraising properties, nor working in the Mortgage business, this "Real Estate Pro" serves as Director of a Company that provides Professional Development Seminars & Workshops to the "Real Estate Industry" and provides free (as needed) & fee-paid (on a sliding scale) consulting & inspection services to members of the general public.Your questions will be answered without "salesmanship" & with your best interests in mind!
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