Are You an Investor-Owner in Braemar? Avoid HOA Liens with This Simple Tip.
Paying your HOA dues to Braemar and whatever sub-association to which your property belongs is important. If you don’t make those payments, a lien can be put against the home and when it comes time to sell the home, a title search will show the HOA liens. At the time of that sale, the money to pay off those liens will come out of your proceeds.
How can you avoid this from happening?
DO NOT PUT YOUR TENANTS IN CHARGE OF MAKING THE HOA PAYMENTS.
It’s that simple.
Right now, I have Buyers purchasing a home in Manassas Park where the HOA went unpaid for over two years by two separate sets of tenants. In each case, the investor-owner personally knew the tenants and considered them friends. Well, friends or not, they didn’t pay the HOA dues, and now when he sells his property to my Buyers, he’ll lose what could have been over $5,000 in his pocket to clearing those liens up.
Never put a tenant in charge of making the HOA payments.
Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®