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From the Forum – flipped condos — reselling issues

by Prince Of Petworth May 27, 2015 at 2:10 pm 23 Comments

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Photo of an “old volvo” by PoPville flickr user Leonard Jewler

flipped condos — reselling issues

“another implication of the stories about condo flipping: issues with reselling

What, if any, are the ramifications of something related to a conversion going wrong after the we (the unit’s first owners/residents) complete a sale to new owners? To what extent could we be on the hook financially and legally? To what extent would it be the original builder and seller? We of course would disclose anything we know of that’s an issue, but what about things there’s no sign of? Does it fall into the category of “that’s homeownership”?

Likely we’ll just sit down with a real estate lawyer, but leave no stone unturned; some of you may have experience/knowledge with this, and others might be able to benefit from the topic, as well . . .

Thanks for any insights you all might be able to provide.”

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