Cash for Houses Austin! Austin HOA Foreclosure ! Can the HOA Foreclose on my House?
We are in the business of providing Cash for houses austin. We buy houses when people are selling a house in Probate in Austin. Selling an inherited house Austin. Stopping Foreclosure Austin. Or stopping An HOA Foreclosure Austin. Or need to sell their Austin House fast for ANY Reason! People that just got here by googling “sell my house fast Austin” that’s who we’re looking for.
This particular article is about one type of seller we buy from. Sometimes people need to sell fast to avoid HOA Foreclosure. If that is you or you need to “sell my austin house fast” for any reason continue reading below or reach out to us now for an offer in 24 hrs or less!
Can an HOA really foreclose on my Austin House?
Yes! Read the story below to learn about an HOA foreclosure and how it can affect you! And what you can do to STOP HOA Foreclosure in Austin!
In 2009, Paula had fallen behind on payments to her Home Owners Association (HOA) assessments for her Austin, TX home. The house was actually in Kyle, TX. But let’s call it north Austin since it is a suburb of Austin and we do buy Kyle, TX houses fast as well as Austin houses. We buy houses fast all over the Austin Metro Area from New Braunfels TX all the way up to to Georgetown TX!
Paula owed $1945.50 to the Austin HOA. The homeowners association (HOA). It was almost two thousand dollars and is a good amount…but not much in comparison to the price of the house. This house was worth about $270,000 and she had it fully paid off. Paula was living on Social Security so she was able to pay her property taxes but money was tight. Well she didn’t pay the HOA fee’s and without her knowledge the HOA attempted to put a lien on her property and sell it. Then she contacted us so that we could pay that lien off and buy the house.
How could this have happened, you may ask? The annual HOA due on her property was $300.00 and because she had 5 years arrears in late payments, the HOA initiated legal proceedings against her.
We think that the HOA tried to serve papers for her late in the day when she must have been napping or at her son’s house in Georgetown. Being that she lived alone, Paula never opened the door for random people that knocked on her door due to safety concerns.
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Paula’s case is not an isolated one here are some reports of this happening when sellers did not call an Austin cash homebuyers like us and were foreclosed on by their HOA. In many Cases the HOA sold their home for pennies on the dollar at auction.
These practices have become common place around communities under HOA. Many home owners who were not aware or have fallen to bad times and couldn’t keep up with bills payments have had their homes foreclosed and sold. Just like this lady in Tomball, TX that was foreclosed in 2016.
We buy Austin houses and we are in the business of exchanging our cash for Austin houses. For those facing HOA foreclosure in Austin, we can make an instant cash offer for your home before it is foreclosed by the HOA or your bank, if you want to sell my house fast austin reach out to us today!
Most HOA foreclosures in Austin, TX are carried out without the full knowledge of the home owners. Letters of notices are usually sent in the mail and some people don’t get to see it. This is in part due to the habit of not going through their mail regularly… which I know I don’t do….and a lot of us don’t do…….. for the few that knew in time, sometimes they were incapacitated by the legal processes and the power the HOA wielded. Or just could not come up with the cash. We pay cash for houses Austin.
This HOA foreclosure has hurt a lot of people, so it is important you understand who the Home owners associations are, what they stand for and how they operate.
I will be educating you on things you need to know if you own a house in a community managed by HOA in Austin, TX or you are looking to buy a house in communities under HOA in Austin, TX.
We pay Cash For Austin Houses and we are in the market to buy any house that is under HOA foreclosure in Austin. If you suspect the HOA is looking to foreclose on you and you are looking to sell my Austin house fast, we are the best people to talk to. We offer cash for Austin houses so reach out to us today if you need to sell your house fast for any reason.
HOA’s actually started as areas with “deed restrictions” or “covenants”. These property deeds included restrictive covenants that prohibited the owners of luxury homes within particular subdivisions from selling their property to any other race outside the Caucasian race. This was in the days of segregation. And people used these associations as a barrier for others not to live in their areas.
In fast this is the exact wording for one of the first HOA’s in Houston. “None of the lots shown on said plat shall be conveyed, leased, given to or placed in the care of, and no building erected thereon shall be used, owned or occupied by any person other than of the Caucasian Race.
What we see now as the contemporary homeowners association (HOA) developed in the 1960s under the guidance of the Federal Housing Authority (FHA). The FHA promoted the HOA as a way of providing affordable homes to large numbers of people and they issued and promoted guidelines and standards which required planned developments to have a non-profit homeowner association with mandatory membership in order to obtain FHA insurance.
Included in the contract of sale, were covenants heavily promoted by the FHA that places a lien for HOA assessments on property owners which can lead to the possibility of a foreclosure in the event of default of payment of statutory dues or outright non-payment of the HOA assessed fees. The FHA assisted the HOA to draw up the covenants and helped them promote it.
HOA’s pretty much gave builders control of their subdivisions for a while until all homes were sold and allowed them to make rules for people living in certain communities.
In the 1960s, there were fewer than 500 homeowner associations, but today that number has risen a lot, in fact there is very little new development in Austin now that is not under an HOA and members are compelled to join and must be up to date with all financial obligations.
Across the country and particularly here in Austin, TX most property owners’ fall under the jurisdiction of a home owners association and by that, they are responsible to carry out all obligations as outlined in the Declaration of Covenants, Conditions and Deed Restrictions (CC&Rs).
This document lays out the obligations of the owner to the association and it includes restrictions which run with the deed when the property changes hands. This is often included with the deed at the closing, but few purchasers ever read the lengthy document.
The Rules and Regulations specify in great detail the dos and don’ts of behavior in the community. The governing boards can change or add to these “quality-of-life” rules and can impose fines for violations. Homeowners pay regular dues as well as “special assessments” and, in return, the HOA is required to maintain the common grounds.
We buy Austin houses and we are in the business of exchanging our cash for Austin houses. For those facing HOA foreclosure in Austin, we can make an instant cash offer for your home before it is foreclosed by the HOA or your bank.
HOA FORECLOSURE AUSTIN
Since the 1980s, Texas and particularly Austin and its immediate environment have had a lot of HOA foreclosures. This is in part to the rapid rise in population of the area. This population growth has led to large scale home building and nearly all of these homes are in subdivisions with homeowner associations. Austin has been a major epicenter for HOA foreclosures so it is pertinent that as a home owner that you are very aware of the status of your membership with the HOA.
Many families in Austin have woken one morning and found out that their homes have been foreclosed. This experience is usually very traumatic and destabilizing. We offer cash for Austin houses fast if you need to sell before HOA foreclosure in Austin. When in doubt about the status of your property, we advise that you consult the HOA office or a lawyer QUICKLY ! Before you are forced to sell.
IF YOU GET AN HOA LETTER IN THE MAIL OPEN IT! WE ARE HERE TO PAY CASH FOR AUSTIN HOUSES. BUT WE WOULD PREFER YOU KEEP YOUR HOUSE IF YOU STILL WANT IT AND THAT YOU DO NOT GET FORECLOSED BY THE HOA. SO MAKE SURE TO OPEN ALL HOA MAIL AND PAY HOA FEES ACCORDINGLY! WE ARE ONLY HERE AS A LAST RESORT!
For a long time now we have been offering home owners cash for Austin houses under HOA foreclosure Austin an opportunity to cash out before the HOA hammer hits.
Whatever the reason for default, whether it is as a result of non-compliance with the laid down rules and regulations of the subdivisions or you are hard off cash and have missed a couple of assessment fees payment or fines, we can make an “as is” cash offer and if accepted we pay cash in full within the next 10 days.
Because most homes sold under foreclosure are sold for far less than the market value, we provide an alternative that ensures that you don’t lose out fully on your home.
In Texas, Austin is the ground zero of all HOA foreclosures. A recent survey conducted found out the after Florida, Texas has the highest amount of HOA foreclosures. Another website whose database research is done by volunteers has found out that the Austin metro area has some of the highest numbers of HOA foreclosures in Texas.
So we advise that if for any reason you suspect the HOA is on your case, and they are looking to foreclose, that you contact us quickly for cash for your Austin house.
The HOA may not take the time to fully notify you though, they are supposed to but because they have the power to effect both a judicial and a non-judicial foreclosure, it is unlikely that you would be able to fully escape their grips if you don’t cash out on your home before the foreclosure.
We buy Austin houses under HOA foreclosure Austin and we advise home owners looking to get cash for Austin houses and those who want to sell my Austin house fast.
Our offers are prompt and reliable. We have been serving the Austin metro area for several years now and we have been able help lots of families save up on their house under HOA foreclosure Austin.
We have bought homes from people looking to get cash for Austin Houses and those who want to sell my Austin house fast or those who come to us asking to help sell my house fast Austin.
I have had people call in to inquire from me what to do about the HOA foreclosure for their subdivision in Austin. I have often inquired what must have led to the HOA seeking to foreclose on their homes and the majority answer I have gotten is that they are either unaware of the HOA infractions or that they have fallen on hard times. So YOU ARE NOT ALONE!
I always first advise that they seek legal advice on the best possible option but that they also leave open the option of selling their homes. Many have called asking for cash offer for Austin Houses. This is to ensure that they do not lose out completely should the HOA finally foreclose.
I have seen instances where people have bought houses not realizing that they were under foreclosure and needed to figure this out right after buying a house! It is important to read carefully all documents at the point of transferring deeds and when in doubt please seek expert advice from your attorney.
Meanwhile it is a wise choice to also contact buyers who specialize in purchasing HOA foreclosure Austin and pay cash for Austin houses. That way, you are ready to cash out incase times become unfavorable.
We buy Austin houses and we are in the business of exchanging cash for Austin houses. We are always available to make a cash offer “as is” for your house. For those facing HOA foreclosure in Austin, we can make an instant cash offer for your home before it is foreclosed by the HOA. Or contact us if you need to sell fast for ANY reason.
For the category of people who have fallen to hard times, the most obvious option is to take the fastest road and sell. If there is no way you can deal with the backlog of assessed fees and fines it is better to call us today to sell.
I have seen families who have lost their homes to HOA Foreclosure Austin because they owed assessed fees of as little as $650. If you fall under this category my candid advice is that you sell and get Thousands in your pocket instead of $0.
We have been in the business of helping families secure their investments in their homes by offering “as is” cash offers for home owners looking to sell my house fast Austin or those looking to get cash for Austin houses.
JUDICIAL AND NON-JUDICIAL FORECLOSURE
The HOA have been greatly empowered by the FHA and they can wield that power either through a judicial process or a non-judicial process, so it very important that you are very careful with your HOA fees. Always make sure that they are paid on time and should you have any fine, endeavour to clear that up on time too.
Your HOA can absolutely foreclose on your home for payment defaults the same way the bank can foreclose on you for a delinquent mortgage or the city can foreclose on you for back taxes! It is important that you are aware of your HOA status and ensure you are always in compliance with the rules and regulations of your HOA.
We understand the trauma that comes with losing one’s home. We know that it is often one of the most devastating events that can occur in a person or family’s life. We understand that the times are hard and a lot people are finding it hard to remain at decent paying jobs, we understand that some people have to deal with illness, medical emergencies, family tragedy or physiological traumas.
We know these things can be responsible for late payments or the non-payment of the HOA fees but it is important that you familiarize yourself with the foreclosure process in Austin, TX.
If it happens to be that an HOA tries to Foreclose on your property make sure you know your rights and have options set up to sell the home if you need to.
There are two types of HOA foreclosures, the type that may be applied to you is dependent on the covenants on your sale documents.
Judicial vs. Non-judicial HOA Foreclosure
Judicial Foreclosure is for covenants that does not include the power of sale for the HOA. In foreclosures of this nature, the HOA has no choice but to seek redress with the courts. These sorts of foreclosures can only happen through a court process.
Because the power of sale was not included in your title sale documents, the HOA is handicapped and cannot effect foreclosure until the courts give an ok. Older HOAs are most likely to have the power of sale provision absent from their sale documents.
However, the power of sale provision is almost always included in newer HOA’s. This confers on the HOA the right to foreclose non-judicially (without court intervention and without having to file a lawsuit) in the case of any infraction or default. This is where most HOA foreclosure Austin has occurred.
There are procedures to a non-judicial foreclosure and it is of utmost importance that you pay close attention to your sale documents and to ensure that all fees due are paid as at and when due.
The following procedure pertains to a non-judicial foreclosure and it is of utmost importance to pay your HOA dues to avoid HOA foreclosure Austin TX. In Texas all HOA documents I have seen allow the HOA Foreclosure Austin without going to court.
The procedures involved in a non-judicial foreclosure include a series of notices overtime informing you of the HOA’S intention to foreclose. There are two notices and I will explain them below.
20- Day Notice
In Austin, TX the HOA must send across to you an invoice that lists the due and owing amount at least 20 days prior to posting any Notice of Sale. This notice not only states the amount that you owe but also should provide you an opportunity to “cure” or payoff the amount due.
This can come in the form of letters in the mail asking for payment or pasted notice. Sometimes they may include pictures of your overgrown lawn or wrong color door, etc. They need to give you this before they start HOA Foreclosure.
If you get this letter, act immediately and pay off the HOA fees. You don’t want to lose your home to an HOA Foreclosure Austin. If you can’t pay the HOA fees or if they have gotten too big, get in touch with us to make an offer for your Austin home.
It is better you seek to get cash for my Austin home before it is too late or you can get foreclosed and get nothing for your house.
Most of my clients who have made the right choice are grateful for the advice and my quick action. If you want to sell my house fast Austin or you want cash for my Austin house we are the best property buyers to speak with.
21- Day Notice of Sale
If for any reason you do not pay off the amount on the letter you got in the mail or email with HOA fees and or fines for infractions, the HOA must give you a Notice of Sale at least 21 days before the sale of the home.
After that the home can be listed for sale. You should be proactive, if you know you can’t make the payments, you should quickly get in touch with us or search the internet for sell my Austin house fast or cash for my Austin home to find a list of property buyers in the Austin metro area.
If the final 21 days expires, the HOA will list your house for sale and they usually would list it at a lesser amount than fair market value so that they can sell quickly and get their money.
What the home sells for will determine if you may still owe the HOA more money or put a few dollars in your pocket. It is always a smart choice to sell my house fast Austin during this grace period if you know that you won’t be able to make payments for the fees and its associated fines and interest.
The HOA must send you and any lien holders a redemption notice within 30 days after the sale date. This notice will state your current rights and report the results of the sale. Usually, this is sent via certified mail and it is simply a notice that gives you the opportunity to buy back your property if you have the finance to do so within a 180 days period.
The HOA is also required to file with the county an Affidavit stating their compliance of the redemption notice. “Redemption” is the right of the former owner to buy back his home and this right is intact for 180 days after the redemption notice is sent.
But should this happen, you would have to deal with a lot of extra legal fees but you may still be able to buy your home back from them after an HOA Foreclosure Austin.
For a lot of people who have fallen short in payments, this is just a formality as they won’t be able to meet up with the deadline and the associated fees that must have been accumulated. In the case of a redemption notice, the home owner would have to pay the fees owed, the interest accrued and the legal fees and then still deal with the persons who must have purchased their house at rock bottom price but is looking to make a profit from them. This is more or less of a loss situation for the home owner.
This is why I always advice that if you have the HOA on your trail and you know full well that you can’t come up with the fees or fines in their notice sent to you, I will advice that you sell and cash out on time before they foreclose. There are a lot or property buyers like us that are looking to pay cash for your home and at market value. That way you are sure that you do not lose out on your home as well as losing out on the possible income that you would have gotten from the sale.
When looking for a property buyer of repute to sell my house fast Austin or you are looking to get cash for my Austin house, we are the best people in the business to reach out to. Call the numbers or send a message and we would call you back.
There are a few questions many home owners in Austin TX have asked in the cause of my years of dealing with clients. My advice has always been to check with your home owners association to know your status and if there is any crisis, consult your attorney. If the issues relates to late payments and for any reason, you can’t make up the payment. …. I suggest you make plans to sell and cash out before the HOA foreclosure.
The questions I have received are highlighted below;
Q: Can I be foreclosed on my Austin TX House by My Homeowner’s Association (HOA)?
A: Yes your Austin TX House can be foreclosed by your HOA.
Q: Does my HOA have right to do an HOA Foreclosure on my house?
A: YES! They do and they can exercise that right should you default on payments. A Homeowner’s Association (HOA) can foreclose on your house! And they can Foreclose and have Foreclosed on Texas houses with just a few thousand or less of HOA fee’s past due! Be aware on an HOA Foreclosure!
Q: What if I just owe fines but I pay all my dues?
A: A Homeowner’s Association (HOA) can foreclose on your house!
Q: Can I still have an HOA foreclosure on my Austin House over something as simple as tall grass fines?
A: YES! They can foreclose on any fine accrued front defaults on the rules and regulations. In theory, HOAs are only supposed to foreclose for nonpayment of dues. But there is a loophole in Texas law, in practice, HOAs can foreclose for nonpayment of HOA fines, too.
Q: Can HOA foreclosure happen over small amounts of unpaid HOA dues or Fines?
A: YES! One family even lost their home because of a $450 HOA arrearage!
We buy Austin house and pay cash for my Austin home to smart home owners who have chosen to avoid the HOA foreclosure Austin hammer. Call us today and we should have a quote for you in 15 minutes.
We buy Austin house and we are in the business of making offers of cash for my Austin house. Should you require our service or advice do not hesitate to call or text the number below. Are you looking to sell my Austin house fast or to get offers of cash for my Austin home, we are always available to make a cash offer “as is” for your house. For those facing HOA foreclosure in Austin, we can make an instant cash offer for your home before it is foreclosed by the HOA.
You should always consult with an attorney to thoroughly review your rights and options as specific cases may vary. This is just my opinion due to my experience and not to be used as Legal Advice. But know that it is in your hands to stop HOA foreclosure and that selling to us fast at TexasFastHome Offer is an option! Names in the story and some details have been changed to protect identity of individuals.
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