Older Condo Building Owners May Get Buy-Out Offers

Kennith Bogan

Pressured by significant repair expenditures, a lot more entrepreneurs of older condos could welcome developer acquire-out features if the land’s value outweighs that of all the specific houses. MIAMI – A condominium enhancement development that was by now unfolding prior to the horrific Champlain Towers tragedy in Surfside – the […]

New Lending Rules Threaten Some Condo Sales

Kennith Bogan

Fannie and Freddie tighten condominium-lending rules. Details vary, but they normally won’t back solitary-device apartment financial loans if a creating has deferred maintenance concerns. ORLANDO, Fla. – In reaction to the Surfside tragedy, Freddie Mac introduced last week that it would right away commence taking a closer look at a […]

Fla. Grand Jury Recommends More Condo Inspections

Kennith Bogan

A Grand Jury tasked with recommending Fla. condo regulation adjustments in the wake of the Surfside collapse needs much more inspections, fewer corrosion and more quickly reporting. MIAMI (AP) – A Florida grand jury issued a prolonged checklist of suggestions Wednesday aimed at blocking an additional condominium collapse like the […]

Condo Q&A: Is It Legal for HOAs to Have 50/50 Raffles?

Kennith Bogan

Also: A apartment owner lives in a 125-unit local community, and was advised they require a site and should post specific official information. Have to they? And: An independent contractor/handyman does not lawfully want workman’s comp insurance policies. Is it okay to use him? NAPLES, Fla. – Query: My homeowner’s […]