DEAR BOB: In February I closed on the "as is" purchase of a condo, which was a foreclosure sale by Fannie Mae. At the closing, I was surprised by a $600 debt due to the condo homeowner's association. I thought Fannie Mae should have paid this. The lawyer who handled the closing agreed with me, but it had to be paid or I wouldn't receive title. I reluctantly paid. When I protested to the condo association, I was told to hire a lawyer because it is my responsibility to pay. What is your opinion? --Ken M. DEAR KEN: When buying an "as is" foreclosure property from the foreclosing lender, which was Fannie Mae, it is customary to deliver marketable and insurable title. Frankly, I am surprised Fannie Mae refused to pay that $600 condo association lien. The sale term "as is" refers to p...
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