P.J. from outside of Connecticut writes: Dear Mister Condo, Can an HOA increase assessment amount 8 months after I sold condo and deed changed hands? The management co. made an error in what they call the “estimate” of their closing figures which were baked into the sale amount (buyer paid the assessment and price was…
Tag: Selling
Condo Price Rebound After Settled Lawsuit
J.B. from outside of Connecticut writes: Dear Mister Condo, Our condo dropped significantly in value just like every other condo community around us when the economy collapsed in 2008. In the meantime, our HOA began a litigation against the builder. This meant that when prices of other communities began to rebound a few years ago,…
Amended Condo Deed Trumps Board’s Forgetfulness
K.F. from New Jersey writes: Dear Mister Condo, I’m a New Jersey Real Estate salesperson representing a seller of a Penthouse unit in a 5 story walk up in a 6-unit Condo. When my client purchased her unit in 2009 she was also given an amended deed that included the exclusive right to build an…
Condo Sale Hampered by Board President
J.R. from outside of Connecticut writes: Dear Mister Condo, I recently entered a contract to sell my condo. After a week of being under contract, the president of the board has mentioned something about blocking my sale due to my partially finished basement. The basement was finished much like others in my building, but I…