2007-09-07 15:08:06 · 5 answers · asked by edge 1 in Business & Finance ➔ Insurance
The HOA agreement would have been part of your closing documents because it is part of the title to the home you bought. It does not necessarily require a separate document to be signed. HOA fees in arrears will eventually be attached to your property and will be satisfied either by court action or at closing when you sell your house. It is advisable to pay them now as the amount in arrears might accrue interst and fines or discourage a future buyer.
2007-09-07 16:25:09 · answer #1 · answered by greybeads 3 · 0⤊ 0⤋
All you have to do is to buy a house that is part of a homeowners association. You should have been informed of that before you closed on the house & you would have signed something at closing. Look through your paperwork. You are liable for the payment. The payment includes insurance for common areas & maintenance fees.
2007-09-07 16:04:14 · answer #2 · answered by Sue 6 · 0⤊ 0⤋
There is such a thing as a voluntary home owners association. In this case: no, you don't have to pay.
Usually, the developer creates the homeowners association and records the agreement with the title agreeing to be a member. If this is the case, you don't have a choice. This agreement travels with the title and is binding on all future owners, just like an easement.
2007-09-08 05:05:43 · answer #3 · answered by Ted 7 · 0⤊ 0⤋
If the HOA went into effect AFTER you bought the house, and you didn't agree to it, no. But if it existed BEFORE you bought the house, it was part of the house sale, and yes.
2007-09-08 05:53:09 · answer #4 · answered by Anonymous 7 · 0⤊ 0⤋
Yes, you must pay your annual Home Owner's Association dues.
There should have been something that you signed as part of closing.
2007-09-07 15:13:10 · answer #5 · answered by Anonymous · 0⤊ 0⤋