Sale and Post-Sale Issues in Assessment Lien Foreclosures
Webinar: Tuesday, October 22
Duration: One Hour
Assessment lien non-judicial foreclosures within a common interest development present challenging issues for the Board of Directors, none more so than the final decision to complete the foreclosure sale and terminate the ownership interest of the delinquent owner.
At the time of the foreclosure sale, the Board of Directors needs to make some difficult decisions, including:
Does the association sell the property? What are the final options?
- Why sell the property if there is no equity? What does "stop the bleeding" mean?
- How does the sale work? What is the amount of the bid? What if there are no bidders at the sale?
- What happens after the sale?
- What and how long is the owner’s "Right of Redemption"?
- What about mortgage payments, insurance, taxes and future HOA dues?
- What if the property is still occupied by the owner or a tenant?
- Can the association collect rents after the sale? If so, for how long?
Assessment lien foreclosure experts Mitch Willet of S.B.S. Lien Services and Richard Witkin,Esq. of Witkin & Neal, Inc. will discuss the association’s options and the proper procedures to bring a foreclosure to a successful and final conclusion.
Register for this CAI-GLAC Webinar on Tuesday, October 22, at 10:30 a.m.
Limited to 100 attendees.
Chapter members – No charge
Non-member boards and managers $35
Once you register, the Chapter Office will contact you with login instructions.
Want to join CAI so you can enjoy our webinars at no charge and other great benefits? Call the Chapter Office at 818-500-8636.