- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (13)
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
I'm guessing since this is more than a year old they have their answer one way or the other. Please check dates when you respond to posts.
- Margaret Woodruff, "maggieluvsatlanta"
- Contributions:68
Also, the realtor failed in their responsibility to your daughter as a buyer. The realtor is required by law to submit any offer, and cannot refuse. You might want to report this realtor to the Georgia Association of Realtors.
That is, if your daughter signed a buyer's brokerage agreement and the realtor was representing her and not the seller (which is the default).
That is, if your daughter signed a buyer's brokerage agreement and the realtor was representing her and not the seller (which is the default).
- Margaret Woodruff, "maggieluvsatlanta"
- Contributions:68
She should not have to pay anything. They cannot sell it without a clear title, so eventually they will have to pay it or negotiate with the HOA, but your daughter has no responsibility to pay any of it, even if she buys the house.
- Michael Cubstead, "mcubstead"
- Contributions:5
Hopefully you did not mean that literally, that is she didn't pay the lien then bid?? It is possible the realtor had already been told by the bank approving the short sale they would not cover the lien. if your daughter is un comfortable with the offer she should just move on to another one.
- Open Home Mortgage
- Contributions:69
Someone needs to explain to the HOA that for the sale to go throguh, it needs to be paid, and the buyer isn't willing (or isn't able to pay).
The alternative is that the slae doesn't happen--the foreclosure does--and the HOA doesn't get anything.
I have had them be extremely hard-nosed about it, but if someone can call and explain (in a very nice way) how they should take something rather than nothing, it may make a difference.
Otherwise, the agents, and buyer and mortgage person may have to split it all to make the deal work. (I've had to do that, too....)
The alternative is that the slae doesn't happen--the foreclosure does--and the HOA doesn't get anything.
I have had them be extremely hard-nosed about it, but if someone can call and explain (in a very nice way) how they should take something rather than nothing, it may make a difference.
Otherwise, the agents, and buyer and mortgage person may have to split it all to make the deal work. (I've had to do that, too....)
- Evie Cohen, "EvieInBoulder"
- Contributions:104
The realtor wanted a signature for what? The Title Company would see to it that all liens are cleared. In order for that lien to be cleared the Lender would have to agree to pay the HOA, or negotiate an amount to pay the HOA to clear the lien so the Buyer could close.
- Earl Park, "Earl Park"
- Contributions:1
If home sale is Foreclosure, the foreclosure wipes out HOA to date of foreclosure, then bank should pay through day of closing. IF short sale you may have to pay or contribute. Normal/regular sale, seller should pay through closing. Again, all is negotiable in this real estate world.
- NTETS, "Mr Caveat"
- Contributions:6436
anything is negotiable, the bank's prerogative is to decline your offer...
- BMFPitt
- Contributions:1207
Fire the agent. Have the new agent submit an offer that states that the seller will be paying all liens against the property.
- Frank Becerra, "Las Vegas agent"
- Contributions:84
I've had the bank pay for the leins, and have had great success in doing it. I would have the selling agent add it to the HUD, as well as all debt, the only thing I have never been able to remove are personal leins as they belong to the person, not the house.
Also, if title can't insure the home, they won't close on it.
Good Luck
Las Vegas Foreclosures
Also, if title can't insure the home, they won't close on it.
Good Luck
Las Vegas Foreclosures
- Hank Miller, SRA, ABR, "BrokerAppraiser"
- Contributions:593
In the contract is a line stating that the property will be delivered free of all liens with clear title....words to that effect. If it's a short sale then the preliminary HUD (closing statement) that is prepared with the offer should ID all liens and establish who is paying them (see which column they're in). The bottom line with the lender is the net proceeds; they are only concerned with what they will net toward the outstanding balance.
Your agent (please tell me you're not using the listing agent) better carefully review the HUD and contract as customary procedures and short sales routinely don't mix - they can be brutal and never the same.
I've seen HOA fees and liens result in lawsuits and foreclosures many times over 20 years of broker and appraisal work - a lien is a lien.
Go in EYES WIDE dealing with lender owned homes, take nothing for granted.
Hank
Your agent (please tell me you're not using the listing agent) better carefully review the HUD and contract as customary procedures and short sales routinely don't mix - they can be brutal and never the same.
I've seen HOA fees and liens result in lawsuits and foreclosures many times over 20 years of broker and appraisal work - a lien is a lien.
Go in EYES WIDE dealing with lender owned homes, take nothing for granted.
Hank
- John Barry, "Realtor_JB"
- Contributions:4
Yes, I agree with wetdawgs - the buyer should request that the seller take care of these liens prior to the close of escrow, which would be customary. Hope this helps - good luck!
John Barry
Coldwell Banker Residential Brokerage
Sherman Oaks, CA
Cell: 323-810-7976
Email: john.barry@coldwellbanker.com
facebook: http://www.facebook.com/RealtorJB
Twitter: http://twitter.com/RealtorJB
www.jbknowsthevalley.com
John Barry
Coldwell Banker Residential Brokerage
Sherman Oaks, CA
Cell: 323-810-7976
Email: john.barry@coldwellbanker.com
facebook: http://www.facebook.com/RealtorJB
Twitter: http://twitter.com/RealtorJB
www.jbknowsthevalley.com
- wetdawgs
- Contributions:26804
I would ask for all liens to be cleared from the property by the seller.
Does a buyer have to pay an HOA lien from the previous owner,($5700) before the realtor submits bid?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.