One of my listings in Beaverton, Oregon is in escrow, and though this would seem to be great news, we seem to have run in to a little snag. It seems the owner who has owned the home since 2001 and has never paid and HOA found out from title that according to the title records the HOA needs to be contacted to make sure there are not HOA dues that are due from the seller upon close.
Here is where the problem lies. She bought the Beaverton, property because there was no HOA. Seems there was and the previous owner didn’t know about it either. Now, the fun part was when we contacted the person who is charge of the HOA, they said they haven’t been in charge of the HOA since 2002 when they moved out of the Beaverton neighborhood.
So, here we are some 8 years later and no new HOA president seems to have ever been elected and the HOA seems to have vanished in to thin air. But, title wants an escrow account to be set up just in case they magically reappear sometime in the future, as this is a short sale and the bank won’t let it close unless this has been set up either.
But, as for now, the HOA is missing and no matter how many times I drive through the Beaverton neighborhood with my big black hat saying “abracadabra” no rabbit or HOA has appeared. When buying a home make sure you read all the paperwork very carefully, as though the owner claimed they knew nothing of an HOA when they bought the property, when she went back through the papers she signed in 1991 there was a paper the she acknowledge that she new about the HOA and the possible dues.
Talk to your agent and make sure you read everything you sign or it could cost you, or delay your closing, if you should ever want to sell in the future. If you are looking to buy or sell in Beaverton, Oregon, give me a call at 503-524-9494 or email me at Todd@IFoundYourNewHome.com, my team and I would love to help you home!
Todd Clark (broker w/ Ken's Home Team)
Keller Williams Realty
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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