Every Wellington short sale will have several hurdles that need to be jumped in order to reach the finish line and one of the biggest hurdles that I have encountered over the past year in Wellington Florida are HOA liens (Homeowners Association).
Last year I had a short sale buyer purchasing a Wellington FL short sale that had three lienholders; first mortgage, second mortgage and the HOA. It took several months for the short sale seller to come to terms with the first and second lender, but it took almost just as long to come to terms with the HOA.
While the short sale listing agent did an excellent job at negotiating with the HOA, which included the board, an attorney & property manager it still delayed the entire process.
While not all Wellington short sale sellers can afford to pay their HOA dues I highly recommend staying current if they can.
If you are thinking about selling or buying a Wellington FL short sale contact us today to guide you through the entire process from start to finish.
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Michelle – Paying HOA dues probably seem silly to some home owners not paying their mortgage, but It will make it a lot easier to close.