Updated about 8 years ago on . Most recent reply
A short sale with 17K delinquency in condo fees
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!
Most Popular Reply
@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?