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Updated almost 4 years ago on . Most recent reply

Anna Toi-GB's profile image
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Anna Toi-GB
  • from West Palm Beach, Florida
  • Member since Mar 10, 2017
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Anna Toi-GB's profile image
Anna Toi-GB's profile image
Anna Toi-GB
  • from West Palm Beach, Florida
  • Member since Mar 10, 2017
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Anna Toi-GB
  • West Palm Beach, FL
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Foreclosures

Buying Foreclosure Home with Mandatory Equity Membership

Anna Toi-GB
  • West Palm Beach, FL
Posted

Hi,

I am interested in bidding on a foreclosure home. However, the property is located in HOA community with Mandatory Equity Membership of $25,000. My question is if I won the bid and receive Certificate of Title from the courthouse, how does the HOA force me to pay the equity membership fee? Do I inherit the $25,000 from previous homeowner? What happen if I don't pay the fee?

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