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Bank awaiting sale of foreclosed condo unit until market rebounds


Question:

Foreclosed condo unit in Florida HOA being held by bank until market recovers 011615  resized 600

My Florida HOA, Property Management Company, and attorney had foreclosed on a condo unit. They have released the bank of any responsibility, and the previous owner still owes the bank. The bank has been waiting to sell the condo unit until the market gets better, and have been refusing all offers.

Can our HOA get out of this in any way, other than renting the condo unit?


Answers (2)

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