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Updated over 16 years ago,

User Stats

34
Posts
0
Votes
Paul Chen
  • Real Estate Investor
  • Monterey Park, CA
0
Votes |
34
Posts

Misled Home Owner Association fee

Paul Chen
  • Real Estate Investor
  • Monterey Park, CA
Posted

Am in the process of purchasing a SFH that my agent had never once informed me any HOA fee involved, though he'd checked those boxes that said seller shall pay for HOA transfer fee and seller pay HOA document preparation fees on page 2 0f 8 from purchase contract; item 4 E.3) & 4) (which I later found out from my friend who‘s an agent also); where I'd let it slipped; just went by his verbalization when he'd went over the contract with me; he did told me none of those fees on page 2 concerned me and they're all paid by seller with the exception of 50/50 escrow fee; without further scoping into the itemizations which he should've had; so should I. In addition to I'd always asked if there's HOA upfront before I'll consider checked out any properties which answer he gave me was no; took his words for granted again…

Comes the escrow acceptance letter needed to be signed, the $45/mo HOA fee only then caught my eyes, I asked my agent what's it about since I wasn't at all aware of it up until this point, he then told me that's just the escrow's letter template, it doesn't apply on the purchasing property.
Nevertheless, I’d wrote “ N/A “ right next to that paragraph with his approval before I’d signed at the bottom of that page for the peace of mind.

A couple of days later, upon calling the escrow to confirm they've everything they needed from me. Only then found out from them that they're waiting on the HOA's info which they assured me its existence and will be included, despite I'd wrote " N/A " next to its mentioning paragraph on the escrow acceptance letter. Followed by a phone call to my agent with frustration; his reply was " Oops! Sorry about that, WE (meant me and him) both had missed it from the listing” (which I’ve never gotten one from him) and he rationalized it by tried to have me offsets the $45/mo by increasing the rent to my tenants to justify his negligent and inconsistence informing. He’d also told me the escrow is just going to bypass my dispute on the escrow acceptance letter and will go through its process as if I’d agreed to it completed.

Any fix to this twist at this point? Or I have to live with the $45/mo for my entire ownership? Though I didn’t read the signed contract that I should have for my bad.

Am I suppose to be informed what kind of services comes with the HOA before asking me to sign the contract's page 2? Let along the misled. I wouldn't have had offered such generous price for this house in order to ruled out my competitions; $13K above its REO listing price; only if the agent isn't seemingly tried to pulled a fast one on me to avoided most buyer's HOA syndrome, besides the seller's agent was manipulating the selling price as well… my agent is just now requesting the HOA service coverage from the escrow for me…

Any thoughts / advises would be appreciated.

TIA

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