Who is responsible for the special assessment fees that were not disclosed to me?
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Who is responsible for the special assessment fees that were not disclosed to me?
I purchased a foreclosed home. After closing I received a notice in the mail that a special assessment was already in effect (started a month before foreclosure). Am I liable for the special assessment even though it was not disclosed to me at the closing table? If not, who is liable for the balance – Seller, Attorney?
Asked on December 2, 2011 under Real Estate Law, Georgia
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your purchased a home that was already foreclosed upon and there was no special assessment of record as to the home when purchased and not shown in your presumed preliminary title report, you would be responsible for the special assessment.
If the special assessment was of record (meaning recorded) at the time you purchased the home, but did not show up in your preliminary report or your presumed title report, the title company should be responsible for this assessment.
If the seller knew about the special assessment before close and did not advise you of it, then the seller could very well be on the hook for it. I suggest that you consult with a real estate attorney further regarding your situation.
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