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To: entropy12
Your HOA can probably foreclose on the empty condo with the unpaid dues, but if the bank can't sell the property then the HOA won't be able to sell it, either.

The best course of action might be to have the HOA take possession of the empty condo and rent it to a tenant to generate revenue to pay off the lien.

51 posted on 04/13/2017 8:35:52 PM PDT by Alberta's Child
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To: Alberta's Child

That sounds like a wise move. Problem might be the bank is not willing to sell at a large loss over the loan amount, is what I heard. Not a real big problem for me as an owner because there are 120 units in this condo association, so percentage wise not a significant factor.

I bought my condo so that I do not have to spend time on maintenance outside. In my calculation, expect 15% waste in a typical condo operation, so that is the price I must pay for convenience and more free time.


60 posted on 04/13/2017 8:51:11 PM PDT by entropy12 (Read my profile for how to really reduce healthcare costs & improve quality.)
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