Profile picture for madmax767

I want to short sale my house, but there is a lien from the HOA. Can I still do it?

I have not paid the HOA for the last 6 months and there is a lien on my house. Do I have to pay it to short sale?
  • February 21 2010 - Enterprise
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Answers (5)

Best Answer

Nevada is a super lien state. That means that all HOA liens have higher priority than your first mortgage. Therefore, all HOA liens will have to be paid by your first lien holder or you (if you can afford to pay) in order to sell the property. Most banks negotiators for Bank of America, Wells Fargo or any other mayor bank are aware of this and will have no problem paying any HOA lien from the proceeds of sale of your property.
  • February 22 2010
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all liens will have to be paid prior to the property being conveyed...by the buyer or the seller...whatever is agreed.
  • February 22 2010
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If you can afford to bring the account to a positive status (pay off the lien) however if you cannot pay it, your Realtor can add those fees to the settlement statement,  however keep in mind that the bank reserve its right to accept or decline such request, specially if you are still occupying the property.
  • February 22 2010
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Profile picture for The LaPeer Team
If you don't have the money to pay it now, then open title when the house first goes on the market so that the title company/attorney can do a title search. The title company/attorney can request the info from your HOA. Once they get it, your Realtor will know how much to add to the settlement statement once you get an offer. If you wait, it could be a mess like Wetdawgs said. Those kind of surprises have killed many short sales.
  • February 21 2010
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Profile picture for wetdawgs
It will be due at closing.    It would be much cleaner to pay it now.

  • February 21 2010
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