NEW homeowners may not know they could have to shell out thousands in repairs right after moving in, even if the damage wasn’t there when they signed.
One furious buyer in North Carolina was charged $13,000 in HOA fees for damage that occurred two years before he moved in, and he could be helpless.
A frustrated homeowner was charged $13,000 in fees for storm damage that happened two years before he moved inCredit: Getty
However, property experts warn that he could still have to shell out the moneyCredit: Getty
When buyers sign the dotted line on their new home, they get to enjoy all the perks of homeownership.
They also have to pay for every single issue that crops up.
This means that even if the previous owner has failed to fix crucial problems, it could be up to the new owner to foot the bill.
One angered homeowner wrote to Moneywise for advice after experiencing some struggles with their new HOA.
They said the HOA wants money for hail storm damage that hasn’t been repaired for the past two years.
The homeowner desperately wished to brush the issue aside as they had only just purchased the property, but experts warn they could be on the hook.
It all depends on when the HOA actually caught the violation.
Homeowners are advised to get a thorough inspection before they finalize a sale.
This way, they can point out damages and necessary repairs to negotiate whether the seller should pay for anything.
However, if any issues with the home aren’t caught until after the sale is finalized, it’s up to the new owner to fix them.
Generally, if the previous owner racks up HOA fees, this isn’t something that can be imposed on the new owners.
But, if an HOA catches the violation after the sale, the new owner can expect to pay out extra fees.
This is one of several reasons why some buyers can’t stand HOAs.
Other homeowners were horrified after being slammed with a $16,000 HOA fee for property repairs just days before Christmas.
Some of the fine recipients, who lived in the Minneapolis suburb of Rogers, Minnesota, said they didn’t even need the repairs.
The HOA wanted property owners to replace their roofs after a hail storm blew through the community in July.
However, homeowner Bridget Newman said her roof had just been replaced two years prior and that inspectors believed she was in good shape.
“If we don’t pay it, we’ve been told we’ll be getting fees, fined, and they could potentially put a lien against our home if we don’t pay it,” she claimed to Fox affiliate KMSP-TV.
According to Sharper Management, the company that runs the HOA, property owners should be able to fund the repairs through home insurance.
The U.S. Sun reached out to Sharper Management for further comment but didn’t hear back.
Another resident was evicted from her home and forced to live in her car just weeks before the holidays.
And a property owner got a “weird” email from his HOA blasting his 𝐛𝐢𝐫𝐭𝐡day party.