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Special Assessment Question

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CondoHelp

Guest
I live in Virginia and was hoping that anyone could give me advice on my situation.

I recently purchased a condo and three weeks after closing I got a notice in my mailbox that two weeks prior to my closing date, the condo association had approved a $450,000 special assessment (my share comes to $2500). Here's my question - since the association approved the assessment while I was NOT the owner, is it the previous owner's responsibility to pay this?

Additional facts - neither the owner, title company, nor the management company for the condo disclosed anything about any special assessment, so the notice was the first time I was informed of it

Any help would be much appreciated. Thanks.
 
Last edited:


HomeGuru

Senior Member
CondoHelp said:
I live in Virginia and was hoping that anyone could give me advice on my situation.

I recently purchased a condo and three weeks after closing I got a notice in my mailbox that two weeks prior to my closing date, the condo association had approved a $450,000 special assessment (my share comes to $2500). Here's my question - since the association approved the assessment while I was NOT the owner, is it the previous owner's responsibility to pay this?

**A: read your contract. There should be a clause something similar to 18. Assessments if any to be paid by__________Buyer/Seller.........
**********

Additional facts - neither the owner, title company, nor the management company for the condo disclosed anything about any special assessment, so the notice was the first time I was informed of it

Any help would be much appreciated. Thanks.
**A: again read your contract. Wasn't there a clause for receipt and approval of all condo docs etc.................? Where is your Realtor?
 

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