Foreclosure in 33324>Question Details

John A Kemper…, Real Estate Pro in Plantation, FL

Is anyone seeing Condo Boards using their 1st right of refusal and buying distessed units?

Asked by John A Kemper Broker | REALTOR, Plantation, FL Thu Mar 29, 2012

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No, but I see that clause kicking the value of units to death. Four out of the last five loan app I had on condos were declined because of stupid things like that clause. Doesn't make sense to me why anyone living in a condo community would do something that will make their unit worth less.
0 votes Thank Flag Link Thu Mar 29, 2012
HI John,
I haven't experienced it yet and I sold a great deal of destressed condos last year always for bargain basement prices.
0 votes Thank Flag Link Thu Mar 29, 2012
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