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Condo building was deemed UNSAFE, Condemned! What to do now!?


This question is submitted by Andres S. out of Bryn Mawr, PA. 

Our 16 unit ocean front condo was deemed unsafe due to structural deterioration. This lead the  condominium to be declared as  condemned. I and many others still have a mortgage on our properties/ condos. The issue is that there are no willing companies to attempt any repairs because they are worried about liabilities. The ongoing notions are to either demolish and rebuild the building or to sell the property as is. 

My biggest question is, Financially speaking how do I afford any options what are my options, really!?


Answers (10)

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