Hello, I'm planning on buying a condo at Newarks sherriff sale...but when I did my research, I noticed that the property has thousands of unpaid HOA fees...I keep getting mixed reviews, some say I would only pay 6 months , others say I'm responsible for all HOA fees...
Anyone have any insight?...if I don't have to pay the HOA fees then it would be a good deal.
Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
6y
In South Jersey and Philadelphia those would be wiped. I am not sure on the Newark stuff, but I am guessing they would get wiped. Check with the sheriff.
Rental Property Investor · Cherry Hill, NJ · Member since 2015 · 626 posts · 495 votes
6y
I think they are entitled to 6 months back pay. However, HOAs, as you may know, make their own rules, albeit not legally sounds, and can still hold the new owner responsible. You should contact the HOA or prepare for a legal battle.
Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
6y
In South Jersey and Philadelphia those would be wiped. I am not sure on the Newark stuff, but I am guessing they would get wiped. Check with the sheriff.