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Updated over 9 years ago on . Most recent reply

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3
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Gus Souki
  • Boston, MA
0
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3
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Passing the 10% Mark in Condo Ownership

Gus Souki
  • Boston, MA
Posted

I'm in a middle of the hot Boston market. Live in a 24 unit building that is 50% owner occupied. I won 2 units now (live in one) and have an opportunity to buy a third. This would raise my percentage ownership over the 10% mark making the association unwarrantable. Condos are selling like hot cakes with plenty of cash offers and going 20-30% above asking. I am concerned on impact on owner neighbors and myself when I decide to sell one of the 3 units in a couple of years maybe. Would love to hear thoughts supporting or not supporting my buying decision. 

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