I bought a condo at a HOA foreclosure. I don't want to pay the HOA fees anymore. What should I do?

Question

The person who owned the condo will not answer my letters. I am only trying to get my money back and transfer the HOA monthly fees back to them. What do I need to do without having to hire an attorney? Is there some motion / form I need to fill out at the courthouse?I'm in Houston, Texas.

Good news! I bought this condo from a Texas HOA foreclosure at a courthouse auction. The people bought it in 2005. The received a loan from Country Home Loans. They decided they could not handle theit monthy mortgage and their HOA monthly fees so they just packed up and left. Can anyone answer me how can I find out if I have to pay mortgage or is the condo mine with no mortgage? If they owed, how do I find out how much they still owe?

Answer 1

I don't quite understand. It sounds like the HOA foreclosed on them for not selling, and now you are trying to get the former owner to recompense you for the past due HOA fees. They already lost the house, and you bought it - subject to all the assessments, and liens on it (one of those being the HOA). If you didn't want to pay them, that is something you should have worked out before buying.
If you question is whether you will still have to pay HOA fees now that you are the owner - yes, of course. The house is still part of a HOA. It going to foreclosure doesn't change that.

Answer 2

Only the component to the HOA price that represents the estate taxes on YOUR unit is deductible. Normally your estate taxes don't seem to be integrated in HOA charges and the component that represents the taxes at the natural places is not deductible through you. If you hire out a room for your dwelling you can also don't forget that component to your dwelling as a condo estate. You'll declare the condo earnings and the proportional percentage of bills on Schedule E. However this may complicate matters whilst you promote as any depreciation allowed or allowable have to be recaptured at sale time and is completely taxable despite the fact that you qualify for the exclusion of reap on sale of a individual condo. I'd advocate that you've a regional tax professional stroll you by way of this BEFORE you're taking the plunge in order that you get your tax returns filed accurately even as you are renting out the room and developing the indispensable bookkeeping procedure to maintain within the IRS' well graces.

Answer 3

HOA's represent a super lien. If you dont pay the HOA's, you are going to lose EVERYTHING. Now if you are trying to make a deal for the people who lost the property to buy it back at a premium, then go for it. But they are no longer in the picture and owe you nothing in terms of reversal of the deal. The were FORECLOSED. Now if you can get the bank to take it back, they are the closest to you in title.

If you got this property at an HOA sale, you probably got a pretty good deal. What's the problem?

Answer 4

You need to read the agreements you signed very carefully. It is possible that they stipulated that you pay all back HOA fees without verbally stating that fact. And just put it somewhere in the stack of 40 documents to sign. And you just, like most of us, kept on signing and signing faster and faster.

If you signed document promising to pay, your chances of not paying are remote. Best to try to sell the place and get out of the situation if you can't afford to pay the back HOA fees.

Answer 5

welcome to texas with the best real estate laws money can buy.
two ways to get out of HOA fees - Die or sell the property. suggest you pretty it up and get a quality Realtor to move it fast.

Answer 6

Right now you're stuck, because you agreed to it in your closing papers. Unless a majority can come up with a legitimate reason, you're stuck, at least until you re-sell and move away.

Answer 7

You bought it. If you don't want it any more, put it up for sale. You can't just get your money back.