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07-24-2009, 10:43 AM
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Join Date: Jul 2009
10 posts, read 8,169 times
Reputation: 10
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other than your "friends", what kind of HONEST information do you think you are getting from the other two who want you to close so they get paid.
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07-24-2009, 10:45 AM
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Member
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Join Date: Jul 2009
10 posts, read 8,169 times
Reputation: 10
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ef1432:
what if they never sell the unit and the developer goes bankrupt, who then is responsible for the HOA sues on the un-sold units? Do you have anything in writing?
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07-24-2009, 10:52 AM
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Member
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Join Date: Jul 2009
13 posts, read 10,073 times
Reputation: 10
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If the bank assumes ownership of any of the units, they are responsible for the fees, it's in the master deed. This has also been confirmed by our attorney.
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07-24-2009, 10:57 AM
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Join Date: Jul 2009
10 posts, read 8,169 times
Reputation: 10
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so you are saying that if a unit never sells that the developer is responsible for the HOA dues, and if the developer goes bankrupt, the investment banks who financed the construction is responsible for the dues on the un-sold units? What page of the master deed did you find that on?
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07-24-2009, 11:12 AM
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Member
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Join Date: Jul 2009
13 posts, read 10,073 times
Reputation: 10
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mblocal- My position on NBP is a positive one. I have been satisfied with the information received from the sources which I trust and look forward to our ownership. This is my final post.
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07-24-2009, 11:24 AM
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Member
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Join Date: May 2009
51 posts, read 48,762 times
Reputation: 11
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Best of luck Ef1432, hope it works out for you. If this is your retirement, enjoy!
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07-24-2009, 11:41 AM
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Member
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Join Date: Jul 2009
10 posts, read 8,169 times
Reputation: 10
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guess he didn't like my last question. Wonder why?
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07-24-2009, 11:47 AM
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Member
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Join Date: May 2009
51 posts, read 48,762 times
Reputation: 11
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it was the tone! You need to learn to be a little more PC.... LOL.
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07-24-2009, 12:23 PM
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Junior Member
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Join Date: Jul 2009
9 posts, read 6,930 times
Reputation: 10
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2DBeach: If you don't mind, can you say how much of a reduction was offered? The market value at Ocean Creek Plantation ocean front next door is off about 30%.
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07-24-2009, 12:51 PM
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Member
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Join Date: Jul 2009
10 posts, read 8,268 times
Reputation: 10
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It's in the master deed... Just read it... if not closing, don't need to be in building- don't need people who can't sustain. The last one...The Island... by Winchester worked great. I made money and no foreclosures there!!!
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