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Answered
HOA/COA foreclosure

If I buy on HOA foreclosure and HOA sells it lower then final judgment. Can they go after me as a new owner for the rest of the debt?

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Answers


Hi, Ekaterina:

Yes, they absolutely can. Remember, pursuant to F.S. 720.3085, the Ass'n can go after successor owners for any and all amounts past due. I know. It's a terrible statute. When it went into effect, I remember thinking: "These HOAs have some amazing lobbyist!"

There are very few ways to defeat that statute, and avoid the liability, so the best thing is for the Ass'n to get its money from the auction. The good news is that they almost always do.

If there is any deficiency, though, you can be sure you'll get a bill from the Ass'n.

Best,

~ Jeff Harrington, Esq.
Harrington Legal Alliance

  
  

Even if HOA accepted my bid as a plantiff on auction? E.g. there is final judjement amount of $50000 HOA is plaintiff and I bought it for $40000. Will they go after me for the $10000 after closing or this lien will be removed?

Ekaterina Prouty   one month ago Report
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1 Answer
one month ago
one month ago

Miami Dade County Foreclosure Schedule

Miami Dade County Foreclosure Auctions: