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Yes, some condos have a right of first refusal written into their bylaws which allows them to purchase a unit (under certain circumstances) in place of an outside buyer, presumably when a unit owner has a contract that the association doesn't like for some reason. I've not come across an example of this yet but they exist. Obviously, they can't discriminate against protected classes but I can think of some examples where it might be in their best interest to do it. For example, if property values were fairly stable but a unit owner (like in your case) decided that they wanted to unload at a below market value price. In this case, it might benefit the association (all unit owners) to absorb the unit at a lower price and then resell it at market value. Or, for a more absurd reason, if the buyer were to state that they intended to give in-home tuba lessons, the association rules might not specifically prevent that from happening but the association still has a reason to keep it from happening. The point is that, absent a specific situation, most rules seem capricious, small, and arbitrary but the fact is that most (if not all) have an origin in an actual dispute between two or more parties. It can be tough living in close quarters with people who don't share the same set of values.
dang! I've gotta cancel those tuba lessons... oh well
bbronston I really appreciate your valuable advice
You are not going to believe this! --- they DISAPPROVED me. They nixed the sale. THe stupid **** condo board! A cash sale. The lawyer of the estate said they are listing it with a real estate agent.
This is after the estate and I had agreed on a cash price, and I can more than cover the entire monthly fee for the rest of my life if necessary.
They would not give a reason and said there is no appeals process!!!! The only thing they told one of the daughter's of the late owner was that I made a mistake by not applying to them first before a contract for purchase was drawn up. But the contract is not even signed yet. How in the world would I have known that? ANd it is not even true legally I believe.
They never even contacted my references or bank. I have no criminal record whatsoever.
I already have a thread about this as I linked to, but I'm just updating that the board did indeed reject my application for approval to buy a condo in their complex. No reason given. They never called my references or my bank. I have no criminal history. It was a cash purchase and I have more than enough money to cover any future assessments or condo fees.
Your heading sounds like the title of a great investigative journalism news article. That or something very funny and tongue in cheek.
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I was rejected by Condo Board to buy a condo
