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Can condo association set condo selling price minimums?

| Board of Directors |  


Question:

Our association just set a minimum sales price of $80,000 for a 1 bedroom and $110,000 for a 2 bedroom. The units for sale have been selling for around $65000 for 1 bedroom (after sitting on market all year at 74,900) and about $99,900 for 2bedroom (previously listed at $129,900 then 119,900, etc....) So they are setting the prices far over market value-- Can our association just do that?


Answers (20)

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