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Updated over 7 years ago,

User Stats

30
Posts
4
Votes
Porsche Thompson
  • Fayetteville, NC
4
Votes |
30
Posts

Seller lied about the HOA fees, what can I do?

Porsche Thompson
  • Fayetteville, NC
Posted

Hello BP,

My husband and I recently closed on our new townhouse. During the whole process we were informed that the HOA fees would be 143.00. We let our lender know and it was stated on all the paperwork. As time went on, and we got closer and closer to closing, the seller began to back track on what he would fix and pay even through we had already written up contracts on everything. It was a major hassle because he was dead set on not doing any repairs or shell out any money for the closing cost. The night we were suppose to close he calls my agent and states since he's going thru a divorce that he will only pay half, of what he agreed upon before hand, of the repairs. We threaten to pull out since he was breaching contract and trying to find loopholes on how to sell without having to pay or fix anything.

The whole process was so frustrating.

After a stern talking to by his agent and my agent he agrees to everything he stated before and we finish the closing. Today, a week later, I call the HOA company to get an update on the work order I put in for the roof. It was then that the HOA owner informed me that they will be raising dues next week for a new project they all voted on months prior. I told him I had no idea what he was talking about and he seemed confused since he said the seller should have brought this up at closing. Instead of us paying 143.00 a month it will now be 275.00 a month, for 7 years! I was taken back because all our financial planning was centered around the 143 dues. The HOA owner mentioned that the seller has known well in advance that this was happening, he even voted on it himself. He suggested a call the law firm we went thru for closing for more information on what to do.

I left them a message and I'm waiting to hear back but I'm curious if I have any legal grounds here. I would have not went thru with the closing if I knew the true cost of the HOA fee. I know the seller knew that and that was his main reason for not stating it before.

Do I have any options here? Is there any way I can reverse this deal since the seller purposely withheld information?

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