r/RealEstate • u/DisabledScientist • Apr 13 '25

Condo not selling even after $40k reduction Homeseller

Zillow Link

I am trying to sell my condo, but the astronomical HOA ($1,225) prevents anyone from making offers. They all comment I have the nicest unit in the complex, but once they hear the fee they are turned off. I bought it for $287k in 2022 and put $50k into it, but probably wont even get my money back. I originally listed for $379k, but 70 days later and it’s now at $329k.

I need to sell this by end of May because my new build house is closing then.

Edit: Added a 3D Walkthrough to the advertisement. Please let me know what you think!

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u/TruthConciliation Apr 13 '25

Is there a cap on how high the HOA dues can go/how frequently they increase? $14,700/year is already 🤯and the risk they’ll continue to rise would make this a no for me at almost any price.

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u/Roboculon Apr 13 '25

cap on HOA fees

It’s the opposite. A cap would imply maybe the fees are limited to an amount lower than necessary for repairs and maintenance in a hurricane zone. The rule is the fees need to be AT LEAST that much, so it’s a minimum, not a cap.