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Updated over 7 years ago on . Most recent reply

User Stats

20
Posts
3
Votes
Joe S.
  • Investor
  • Washington, DC
3
Votes |
20
Posts

A short sale with 17K delinquency in condo fees

Joe S.
  • Investor
  • Washington, DC
Posted

Hello BP community, I am looking into buying my first rental property and I came across a short sale 1Bed 1Ba condo. After looking into it with my RE agent, he informed me that there's a delinquency of 17K in unpaid condo and late fees. Who is the responsible party for these fees? Did anyone have to deal with this obstacle before?  Any advice is appreciated!

  • Joe S.
  • Most Popular Reply

    User Stats

    363
    Posts
    143
    Votes
    Carlos Zapata
    • Investor
    • Miami, FL
    143
    Votes |
    363
    Posts
    Carlos Zapata
    • Investor
    • Miami, FL
    Replied

    @Joe S.   Congratulations, there are a lot of people that just dream to invest and do nothing,  Normally the short sale lender pays but you may be surprised that they will give you a counter with you paying those fees,  

    By the way, rather than invest in a condo with all the restrictions, why don't you find a Single-Family Home for your first investment?

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