When buying or selling a home in Irvine or throughout Orange County, homeowners association (HOA) fees are often part of the conversation. But not all HOA charges are created equal, and understanding the difference between regular HOA assessments and special assessments is key to a smooth closing.
What Are Regular HOA Assessments?
These are the recurring dues paid monthly, quarterly, semi-annually, or annually that help maintain community amenities—like pools, greenbelts, clubhouses, and landscaping. During escrow, these fees are typically prorated between buyer and seller based on the closing date. They’ll appear clearly on the final closing statement.
What Are Special Assessments?
Special assessments are extra charges levied by the HOA for unexpected or major expenses—think roof replacements, plumbing upgrades, or lawsuits. These are not automatically prorated like regular dues. In fact, many HOAs require that the seller pays any outstanding special assessments in full before closing—unless the buyer agrees in writing to assume them.
What Buyers & Sellers Should Know
Buyers: Always ask whether there are any pending or recently approved special assessments.
Sellers: Be prepared to cover these charges unless your buyer agrees otherwise … in writing. Escrow will only reflect and prorate regular dues, not special assessments unless expressly allowed.
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