Tag Archives: condo takeover

Reader’s Choice 2017: Condo owners forced to sell in a deconversion, like it or not

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It’s that time of the year. For the rest of the year, I’ll be reposting the 10 most read articles here on IAC. Thanks for following, reading, and sharing. Special thanks to readers who have provided inspiration for blog topics, and for those who have been willing to share their personal HOA stories. Public awareness is the first step on the road to justice for housing consumers. Best wishes for a peaceful holiday season and Continue ReadingReader’s Choice 2017: Condo owners forced to sell in a deconversion, like it or not→

No guarantee of private property rights for condo owners

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By Deborah Goonan, Independent American Communities   Thinking of buying a condo? Before you make a financial commitment, here are three important considerations. 1. Think about how you plan to use the condo. People buy condos for different reasons, with vastly different expectations. Which category best describes your reasons for considering a condo purchase? Buying a condo as a place to live. A first-time home buyer or single adult might purchase a condo because its Continue ReadingNo guarantee of private property rights for condo owners→

Condo to hotel conversion a bad deal for 20% of FL unit owners

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Minority investor-owners’ investments turn sour, full-time residents are displaced. By Deborah Goonan, Independent American Communities   People buy condo units for several different reasons. Some buyers purchase a unit in a condominium with the intention of making it their primary home. Other buyers may intend to live in their condo full-time or seasonally upon retirement, leasing to tenants in the meantime. But a growing number of buyers purchase one or more units purely as investments, with Continue ReadingCondo to hotel conversion a bad deal for 20% of FL unit owners→

Condo owners forced to sell in a deconversion, like it or not

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In Chicago, Illinois, 75% of unit owners can force a bulk sale and termination of the condo association. By Deborah Goonan, Independent American Communities   Although the real estate market has improved in some parts of the country, condo sales in some markets have lagged behind. In Chicago, news outlets are reporting the hottest new trend, condo deconversions – the bulk sale of condo units by their individual owners to a real estate investor who Continue ReadingCondo owners forced to sell in a deconversion, like it or not→