All Forum Posts by: Carol Hu

I should have been more explicit. The condo is in Seattle, and special assessments donot have to be paid by the seller. I bought the condo 8 years ago, and it was on a payment plan for the last special assessment with 13k remaining balance. The seller wanted me to pay it, and I had the choice of either pay it off in one-shot or take a multiple years payment plan. I was able to negotiate with seller to split the special assessment, she paid 3k and I paid 10k. 

I have a studio condo that I am planning to sell in the next few years. The building just went through a 1MM remodel and my unit has a special assessment of $7700. I have the option of paying it off in one shot or doing a 120-month payment plan. The interest rate on the payment plan is $5.95% and they also charge a $12/month accounting fee, which brings the monthly payment to $97. The current monthly HOA is $277.

I have enough cash sitting in the bank and earning 5-5.5% interest. I would just pay it off in one shot if I am planning to hold this condo for longer term. The condo worths about 270K, I was wondering which way would make the condo more marketable, an additional $7K on the price or an extra $97 on the monthly HOA?

Thank you Becky, this is super helpful!!

Thank you Charles. Everything you said makes sense. However, I still want to send them to collection agency, even if I cannot get any money back. I just don't want people to do whatever they want without facing the consequences. 

Could you suggest a collection agency that I can use? So far, I haven't found any agency that wants to take this case yet.

I have a tenant who owes me 7+ months of rent, I filed the eviction when they were two months behind, but the court gave me a court date of 5 months later. The tenants left the day before the court date, so the eviction was denied. They owe me 20K in rent, damages, and late fees.

I worked out a plan with them over email to waive all the late fees if they came up with a payment plan and stuck to it. We agreed on a plan, then they made their first payment and disappeared afterward. What are my choices here? I tried to send them to the collection, but I cannot even find a collector working on this. The collectors I found said they don't deal with person-to-person collection, and I don't have a registered company.

And I am not sure where they are; they said they moved out of state, and the forward address they left is an out-of-state address.

Pls suggest any collection services; I am ok with paying a big portion of the recovered rent to the collector.