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How does condo buyer determine monthly fees from assessments?


Question:

I was recently told if a condo seller in Ohio adds a monthly HOA fee amount and a monthly "non-recorded" assessment amount and merely shows a "total" on a disclosure form, and a buyer or realtor or title company does not verify them as being two separate charges (one an HOA fee and the other an assessment), even though a seller doesn't "disclose" that assessment anywhere on the disclosure form and buyer isn't given the opportunity to negotiate the assessment because if wasn't disclosed, a buyer is legally required to pay the assessment no matter how long the payment/terms runs??? Can this be true??


Answers (9)

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