> Condo owners stuck with homes no one will buy as they wake up to grim repercussions of new lawsPrevious | First | 1 | 2 | Last | Next
........................................................................
Diarrhetrius BrownCondo owners stuck with homes no one will buy as they wake up to grim repercussions of new laws
Instead of a condo why not purchase a mobile home in a 55 and up community?
Seriously, it's a whole lot cheaper and it isn't like you are putting your entire lifetime earnings into a single property.
In some areas of Florida homeowners insurance can really set you back.
Let's take a look at an example https://covecommunities.com/55-mh-commu … s-village/ which is located between Orlando and Tampa.
Two people, both retired... why not a two bedroom two bath mobile home?
Why not purchase this home https://covecommunities.com/homes-cotta … n-terrace/ for $25,900?
Comfortable for two people.
Ok, I know a good number of people who have these mobile homes in parks for the 55 and up group and it is pretty good. It's not overly expensive and if all you spend is $25k to $35k do you really need the expense of homeowners insurance? Remember, in some areas of Florida homeowners insurance can get as expensive as fuq.
I have no idea what the "lot rent" is but if it includes all the amenities like golf and they take care of your yard who really cares if it's $500 a month?
I lot of friends I know that have these properties are snow birds where they will come down and spend October to May here then go back home when it warms up.
As far as a 10 story condo building I wouldn't spend a dime on any fuqing property..... you are looking to get fuqed in the ass if you do.
........................................................................
Re: Condo owners stuck with homes no one will buy as they wake up to grim repercussions of new laws
VP_Spiro_T_Cheney wrote:
how do you “sell the land” under a foreclosed condo unit? That could only work if the you bought every unit in the complex. When you buy a condo you get two deeds, one for your own unit and one for an indivisible share of the commons property.
Anyhow, fuq ‘em, this is a problem of their own making, this is what the asshoals voted for. Decades of shytty building codes, lax inspection and deferred maintenance and now the chickens come home to roost.
The HOA puts a lien and ultimately foreclosure on the 2/3 of the condos who can't pay the special assessment. Since the 1/3 isn't enough to fix the place... that money goes into escrow. Once the condos are foreclosed on, the 1/3 get their money back AND now sell the valuable land to the developer.
The Surfside Condominiums (70 unit) land sold for $120 million to a developer.
........................................................................
anon user #3Re: Condo owners stuck with homes no one will buy as they wake up to grim repercussions of new laws
wrote:
False.
It is decades of neglect by the property owners. To the point where laws had to be made because they couldn't even be relied upon to properly maintain their own buildings.
Now their vertical trailer parks are nearly worthless. Tough shyt. They should have considered the implications of their neglect, but failed. This is the result.
Like you.
Blaming everyone but those actually responsible.
Most of those building owners are Baggers. Baggers love to do the bare minimum for safety and exploit people for short term profits.
........................................................................
Re: Condo owners stuck with homes no one will buy as they wake up to grim repercussions of new laws
Florida is a shythole.
I’m not surprised the homes there are not selling.
........................................................................
Previous | First | 1 | 2 | Last | Next