<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1061566567187268&amp;ev=PageView&amp;noscript=1">
Skip to content

Bank awaiting sale of foreclosed condo unit until market rebounds

| Florida |   Condo Association Management |   Board of Directors |   Condo & HOA Law |   CCR, Bylaws & Rules |   Disabilities & Owner Rights |   Fees, Foreclosures, Delinquencies & Collections |  


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)

What are your thoughts on this topic?

Comments and postings are not legal advice, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other.
 

Related Posts

Where do condo fees go when unit gets foreclosed on?

Who pays fees on unsold units in HOA development?

Illinois Condo Association owner abandons unit and leaves behind unpaid dues