<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1061566567187268&amp;ev=PageView&amp;noscript=1">
By CondoAssociation.com • October 26, 2018

Should have association gave money back?

Back in May I sold a condo in Chicago.  Right before my closing date I received the email from association that we will have a special assessment meeting set for a date two days after the closing. Since my buyer asked if I am aware of any special assessments being debated by the board I had to expose the information to the buyer. Special assets were assessed for the legal operations of foreclosure of one of the delinquent condo owner in the building. Since we did not know whether assessment would be imposed and if so what would the fees be, we set the escrow account during closing that was supposed to hold the funds to cover the costs of special assessments if such are imposed, and paid by us as sellers. The voting took place after our closing (just 2 days later) and special assessments were imposed, under the condition that such would be returned by the board once the delinquent unit is for close and sold, regained funds would be returned to owners. I would assume in such case to us as sellers as we were the ones to pay for it. We sent the info to the board with the confirmation and request that since we paid for assessments we would require the refunds if those ever happen to be returned to us. Nevertheless, never heard back from them until recently, having another unit in the same building we were informed that delinquent unit owner paid all back dues to the association and no foreclosure is needed so the board will be returning the collected special assessments as refunds to current owners. After learning that - we send another email to the board informing them to send the refund to us as it was our payment and we also attached copy of the check from our escrow account. Yet. They did not respond to us and send the check to the current owner eg our buyer who does not want to return the funds to us. I contacted the attorney who was settling our sales to contact the buyer attorney to clear this out, but I do strongly feel that association board behaved in the wrong and dishonest way, first of all not responding and second of all knowing who paid the dues how can they refund someone who did not issue a payment just because he happens to be a new owner? Where can I repost the wrongdoings of the board? Since I still have one more unit in this association it makes me question honesty of people who seam to do the monkey business .

Please drag open the comment box from right bottom corner to make it larger.

Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.

Blog by Topics

See all

Subscribe Here!