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Collections Process
Fines may be assessed for violations of the restrictive covenants or architectural standards or for nonpayment of dues. Below are details on the collections process:
- Payment is due on the 1st of the month it is billed.
- First late notice is sent out after the first past due date on the 30th (i.e. payment due on January 1st, first late notice is sent out after January 30th.)
- Two late notices are sent to owner, by the third month past due, a demand letter is sent to owner giving them 15 days to pay in full or to contact our office to set up a pay plan.
- If there is not a payment or arrangement made, after the 15 days, the file is turned over to the attorney for collection.
- A demand letter is sent out from the attorney’s office giving the owner 10 days to pay the debt.
From this point the following can take place from the attorney’s office:
- A lien will be filed on the property.
- An Intent to Foreclose notice is given, and after this a foreclosure notice is filed.
- A hearing is held where a foreclosure order is given from the court.
- The property will posted and published for sale.
- When the sale is held on the property there is a 10 day upset bid process. After the 10 days the sale is closed.
- After the property is sold, the owners are given approx. 45 to vacate the property, at which point the property will be deeded over to the association and the locks will be changed the association takes ownership of the property.
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