What to do about negligent construction to entire condo unit, where developer declared bankruptcy, and no units will sell until the problem is fixed?

Asked by Justinshu, San Bernardino, CA Wed Dec 19, 2012

Keep sinking money into a lawsuit, or cut losses and foreclose?

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Sally English, Agent, Atlanta, GA
Wed Jan 30, 2013
Some of the answers below are from a different kind of "Bar" exam. Better to speak to someone who has passed the Georgia Bar Exam for those desing to practice law.

Sorry Hank and others - your bar is not gong to qaulify - but sounds like fun.
0 votes
Netdragon, Home Buyer, Smyrna, GA
Wed Dec 19, 2012
If this is something that can be fixed unit-by-unit, I would get an inspection by a reputable inspector to figure out how much in the hole you are, then contact your mortgage company, or government agents and figure out if there is any way they can help you out with a loan modification.

If it's the common areas, then your entire association is probably going to need to take out a loan and pay it back through assessments. I'd try to fix whatever the issue is incrementally, if possible.
0 votes
Hank Miller, Agent, Alpharetta, GA
Wed Dec 19, 2012
crap - Friday is doomsday? Hookers and Hooch is a good place to be when the ballon goes up....
0 votes
David Herren, Agent, Atlanta, GA
Wed Dec 19, 2012
Justinshu,

That question can only be answered by you, your fellow condo owners and your attorney. Preferably, one who has passed the bar, but who has not spent to much time at a bar. In any case, as hinted below, wait until after the Mayan calendar ends on Friday. It may not matter after that!

Best,

Dave Herren
Best Atlanta Properties
404-425-4945
0 votes
Michael Hamm…, Agent, Suwanee, GA
Wed Dec 19, 2012
Or Friday. That's the day of the winter solstice, and also the end of the 5,125-year Mayan "long count" calendar. Better make it a double...
0 votes
Lee Taylor, Agent, Decatur, GA
Wed Dec 19, 2012
If we were to host a Trulia Voices Happy Hour, then it won't be at some OTP shopping Center tenant "foodrinkery" frequented by the likes of Hammond and Miller.

I am thinking that Six Feet Under on 11th is always a steady location - rooftop. On a sunny January day.

Unless the world ends tomorrow...
Web Reference:  Http://intowninsider.com
0 votes
Michael Hamm…, Agent, Suwanee, GA
Wed Dec 19, 2012
Tommy's...Ah, we know it well. Serves Macallan's as their Bar Scotch. The Dude abides...
0 votes
Hank Miller, Agent, Alpharetta, GA
Wed Dec 19, 2012
Ah the bar.....Tommy's Bar and Tanning Lounge serves non-bar members and takes plug nickels...

As for this question, contact an attorney and inquire about a class action suit as well....but if they're bankrupt, plug nickels might be the only asset
Web Reference:  http://www.hmtatlanta.com
0 votes
, ,
Wed Dec 19, 2012
For legal advice like this, you would have to consult with an attorney. No one else would be qualified to answer.
0 votes
Michael Hamm…, Agent, Suwanee, GA
Wed Dec 19, 2012
Good question, Justinshu, but unfortunately any answers received wouldn't likely be worth a plug nickel without having first passed the Bar. As in Bar Association, not Joe's Bar and Grill. Also, knowing the development and situation details in your area could help. Good Luck!
0 votes
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