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Who is responsible for HOA dues after foreclosure in Florida?
I’m considering buying this home in Florida. It is a foreclosure, though, and I bet the prior owner was behind in the HOA fees. If I buy it, who is responsible for the HOA dues after foreclosure in Florida?
Shannon Martin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It is great that you are keeping the prior HOA fees in mind. In Florida, the new owner will be responsible for the HOA dues on a foreclosed property—however, that does not relieve the prior owner of the responsibility. Both parties are on the hook for the bill until it’s paid.
Florida also has a unique 12-month rule in regards to HOA fees. If a bank takes over the property, they must only pay the HOA the past 12 months of fees. If it is a short sale (the home sold below market value for a quick turnover) or a deed-in-lieu (the owner surrenders the home back to the bank), the total fees are still owed.
Ask the realtor how much is owned in the property because those fees can add up! The past due amount can include:
- Assessments
- Lawyer’s fees
- Interest
- Late charges
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