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Samuel Alpho…, Other/Just Looking in 11205

What happens when a condo has no money?

Asked by Samuel Alphonse, 11205 Tue Aug 12, 2008

Does that mean serious increases in common charges if repairs need to be made? What does it mean for the building itself? I would think it will be harder for a seller when a buyer needs to see the books, etc.

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Yes, in terms of common charges (HOA). Are there any other repercussions?
0 votes Thank Flag Link Tue Aug 12, 2008
Are you talking about the HOA of the condo? If so many of the occupants for the condo MAY have an increase in their HOA, it depends on the HOA governing regulations. Review the documents
Web Reference:
0 votes Thank Flag Link Tue Aug 12, 2008
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