Assessment in disclosure statement

What is the name of your state? NC
We signed a contract on our home (for sale by owner) in the presence of our family attorney on Jan. 15, 2003. This property is located in a homeowners association with yearly dues payable each March. The association had been discussing repaving the streets and mending the entry gates for over 3 years. On Jan. 7th at the annual meeting, apparently the association approved a $600 assessment to each property owner due and payable by July 1, 2003. The previous spring an account was set up to prepare for repaving "at some point in time." We paid the $200 fee that was approved by the majority vote last summer.

Since we left the meeting before a vote was taken in January (this subject had been hashed and rehased for numerous meetings with no decision), we were not aware of the assessment decision. We received minutes of that meeting in our mailbox from the president/secretary with no attached letter indicating the assessment was due by July 1st. All minutes of meetings from the homeowners were left in the kitchen drawer for the buyers to be aware of homeowner news.

On Feb. 25th we closed the loan on this property. Now the buyers are holding us responsible for the $600 paving assessment that was due July 1st. Are we responsible when we never received a letter of assessment, the due date of the assessment was July 1st, and we no longer owned the property after Feb. 25th?

[HomeGuru]

Originally posted by phouse
What is the name of your state? NC
We signed a contract on our home (for sale by owner) in the presence of our family attorney on Jan. 15, 2003. This property is located in a homeowners association with yearly dues payable each March. The association had been discussing repaving the streets and mending the entry gates for over 3 years. On Jan. 7th at the annual meeting, apparently the association approved a $600 assessment to each property owner due and payable by July 1, 2003. The previous spring an account was set up to prepare for repaving "at some point in time." We paid the $200 fee that was approved by the majority vote last summer.

Since we left the meeting before a vote was taken in January (this subject had been hashed and rehased for numerous meetings with no decision), we were not aware of the assessment decision. We received minutes of that meeting in our mailbox from the president/secretary with no attached letter indicating the assessment was due by July 1st. All minutes of meetings from the homeowners were left in the kitchen drawer for the buyers to be aware of homeowner news.

On Feb. 25th we closed the loan on this property. Now the buyers are holding us responsible for the $600 paving assessment that was due July 1st. Are we responsible when we never received a letter of assessment, the due date of the assessment was July 1st, and we no longer owned the property after Feb. 25th?

**A: yes because of your failure to disclose the pending assessment to the Buyers.