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Updated over 3 years ago on . Most recent reply

User Stats

27
Posts
2
Votes
Ron K.
  • Property Manager
  • Miami, FL
2
Votes |
27
Posts

Developers offering to buy out condo building where I own a unit.

Ron K.
  • Property Manager
  • Miami, FL
Posted

Hi all, 

I own a unit in such a condo, HOA and owners received offers from developers. My intention were to retire in that unit.

1) Will I have to sell if majority agree and more forward do sign contacts? 

2) Any nego strategy recommended to get most of the deal?   

Thank you in advance. 

Most Popular Reply

User Stats

3,125
Posts
2,637
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Matt Devincenzo
  • Investor
  • Clairemont, CA
2,637
Votes |
3,125
Posts
Matt Devincenzo
  • Investor
  • Clairemont, CA
Replied

Yes, hostile take over of a condo is a thing. The rules vary by State, but if they obtain a majority of the units they may (depends on the State) be able to force a sale through the courts.

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