Asked by Dominique, Boca Raton, FL • Sat Aug 23, 2008
is a 2 story (4th and 5th fl) PH unit with 2200 sq ft interior space and 2 terraces each about 110 sq ft. We have an interior elevator in our unit, marble, granite, all upgrades possible, 2 BR 3 full ba and a den.
We put nearly $100k in capital improvements and lived here in this mess for 2 years now waiting for the developer to be accountable and the city to hold him so.
He is now threatenting to terminate the condo using 718.117 and made buy back contracts with some unit owners- who were mostly flippers- almost a yr ago and keeps delaying their closings for any reason possible.
I read somwhere that termination doesn't necessarilly mean he can just get an apprasial ( which may be low ball based on his own fault of not finishing the project) go to court and pay us what he appraises it for?
I heard that the termination may just effect the condominium as the form of property but that we can still own our unit, is this true?
Real Estate in Boca Raton
Popular Categories in 33432
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!