Every condo.hotel has their own rules and regulations. In addition the management firm the the condo/hotel uses; will have a seopparate set of conditions. In general, the monthly association dues do not have to be paid until the hotel is up and running. Your investment may be safe and sound. If you have doubts- best to contact a local attorney that can help guide you through the process.
And since the building is in construction, we have no comparables to determine a price.
Without knowing the type contract and mortgage you received from thier lender, I couldn't tell you.
Most times on new construction, once the builder has received a Certificate of Occupancy, you then close on the home. But again without the details I cannot offer any advice on this.
Thank you for such a speedy response to my questions.
No, I did not have US realtor with me when I signed the contracts.
Amenities as on the web site http://www.hollywoodgrande.com
Can you give me any information as to whether I will have to close before the Hotel is finished?
Please tell me you had a U.S. Realtor with you when you signed the contract to purchase.
It is very inportant for you, especially when buying from overseas to have someone well versed in the differences between the U.K. and U.S.
I am not in the Hollywood area, so I will leave the values to an agent in the area.
What kind of amenities will this condo hotel have?