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All Forum Posts by: James Campbell

James Campbell has started 2 posts and replied 3 times.

Jersey City Real Estate Forum

Post: Condo conversion in Jersey City

James CampbellPosted
  • Posts 4
  • Votes 0

Hi
Has anyone successfully done this who can share experience (costs, timeline)? I've identified a 2 family to 1 family opportunity.
Thx, James

0 Votes
Jersey City, New Jersey
New Jersey Real Estate Q&A Discussion Forum

Post: DCA Penalty from 9+years ago- $7k

James CampbellPosted
  • Posts 4
  • Votes 0

Hi,  would be super appreciative if someone has any advice on an issue:

The HOA (Self-manged) of our 3 unit condo building in Jersey City just received 3 penalties totaling $7k for violations on the 5 year DCA condo inspection dating from 1998/2005/2009. THINK this is mainly non-payment penalties. All current owners purchased in 2016. The HOA is a non-profit corporation equally owned by the 3 condo owners. Membership of the HOA automatically transfers when there is a new buyer.

Could the responsibility for liability somehow remain with the previous owners or the debt be too old to collect?

THANKS in advance for any help.

0 Votes