PrintPrintThree homeowners associations in Charleston County filed foreclosures against their members for unpaid dues ranging from $700 to $43,000 during July, and one association bought out of foreclosure during a public sale.
By Matt Tomsic
mtomsic@scbiznews.com
Published Aug. 2, 2012
Homeowners associations in Charleston County filed three foreclosures in July, and one home was sold at public auction to recover unpaid association dues.
The Arboretum Condominium Owners Association Inc. filed its foreclosure to recover $4,600 of unpaid dues, according to filings at the Charleston County Clerk of Court; Paddock Pointe Homeowners Association Inc. filed to recover $700; and Simmons Pointe Homeowners Association Inc. filed to recover $43,000.
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One association’s foreclosure made it to auction in July, and the association — Twelve Oaks at Fenwick Plantation Property Owners Association — bought the home during the July 17 auction for less than $1,000, according to court records. The homeowner owed $9,900 when the association filed the foreclosure; the home was last purchased in 2007 for $167,000.
Homeowners associations in Charleston County have filed roughly 400 foreclosure cases since 1996, according to an analysis by the Charleston Regional Business Journal, and 68% of the cases were filed to recover assessments and other costs worth less than $5,000. The majority of cases are dismissed, but 1% end in a home’s sale at public auction.
Charleston County has more than 750 homeowners associations, according to voluntary filings with Homeowners Association USA, which provides education, support and referrals to associations. No government agency oversees, licenses or collects data about homeowners associations, and state law provides the framework for associations to foreclose on its homeowners to recover unpaid dues and assessments.
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