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Updated about 6 years ago,
Do I honor past HOA fees after a foreclosure?
Hello everyone and thank you in advance.
I recently sold two homes with a 1031 exchange. I hit the county auction and won a nice property with a lot of potential. Now that I'm in the waiting period, a few questions came up. I think this is just wishful thinking here but I have to ask... Should I acknowledge the HOA at all? Here's my thinking behind this...
Is it true that a buyer of a home agrees to be governed by the HOA at the time of sale? If I did not agree to any terms of the HOA and I bought through the county auction, am I a member of the HOA? In other words, what right does the HOA have to govern me and my property if I never agreed to the HOA terms? Is it possible that I could be the only homeowner in the community without an HOA? Additionally, do I have to pay their fees going forward and do I have to pay fees from the last owner?
Any help would be appreciated.