Seller did not disclose HOA fees

[Heshel Mangel]

I am under contract on a home, where the seller did not disclose any HOA fees (claimed there was none), and now in the appraisal report obtained from the bank, I see there is HOA dues. It is not much, but still comes with all that is HOA (including incidental fees, transfer fees, etc..).

Any suggestions how to proceed? Should I back out because of that discrepancy? Move forward? Negotiate with seller? 

[Cassi Justiz]

Are you working with a realtor? You may have some protections if you used a state issued contract. 

At least in my state, our contract and disclosures form has some basic protections built in for the buyer should the seller intentionally not disclose something of that nature. 

You will have to decide what the house is worth to you with the HOA fees included. Do your original numbers still work? I personally won't buy a property with an HOA, so for me it would be a really quick deal breaker.

But if you really like the property and the numbers still work, you could request to negotiate a discount on the price or have them pay for some of the HOA fees and dues (if that's allowed). I would also make sure you get a really thorough inspection. If they didn't disclose the HOA and HOA fee, it would be wise to do your due diligence on the actual property.