Condo Maintenance Check Bounce?
Hi guys. I think I may have slightly miscalculated my finances and may bounce a maintenance check to my condo. What do you think the consequences would be? (I do have the funds, just deposited them a day or two late… we’ll see)
Hi guys. I think I may have slightly miscalculated my finances and may bounce a maintenance check to my condo. What do you think the consequences would be?
(I do have the funds, just deposited them a day or two late… we’ll see)
don’t panic, it happens to everyone. Just don’t do it again for a loooong time. Else they may demand future payment certified.
A lot of banks will still pay the check if you have money in a savings account, and then charge you a $35 fee. So your condo association may not even be aware that your account was overdrawn.
If the bank does not pay the check, just tell the association to re-deposit it, and pay for any charges they incurred.
Shit, is that all? The re-writing and bounce fee I can handle. I was worried there might be some other consequence with the condo association, or credit history, or something a little more drastic. I’m a newbie to the whole home-ownership thing.
You may also want to consider getting overdraft protection on your checking account with helps prevent stuff like this.
you will probably have to write a new check and pay whatever the check bouncing fee is incurred by the condo bank account.