Condo living

[scott2000]

dang ...
too bad this couldn't be a part of build back better

https://www.aol.com/reckoning-coming-floridas-condo-owners-100000558.html

 

[Gold]

This happened to my wife’s cousin. She got hit with a 60K maintenance bill.

 

[scott2000]

This happened to my wife’s cousin. She got hit with a 60K maintenance bill.

jeez...
I wonder if they spread it out in the dues over many years and, if so, how many years...that's a ton of money....
Wouldn't be surprised if someone is providing financing/making money, and the spread out payments would come at a cost

 

[Gold]

jeez...
I wonder if they spread it out in the dues over many years and, if so, how many years...that's a ton of money....
Wouldn't be surprised if someone is providing financing/making money, and the spread out payments would come at a cost

I think they want it all at once. I didn't even believe it when I heard it. I thought the way these things are normally taken care of is for the condo to take out a loan and add it to the common fees over the term of the loan. Apparently not.

 

[scott2000]

dang...wtf?
Sounds criminal

 

[Gold]

dang...wtf?
Sounds criminal

I know. I hope I have it wrong. So what do you do if you don’t have it? Get sued by the condo? Forced to sell with a 60K buyers premium?

 

[Brian Roth]

Typical with condos and HOAs. They assess, you pay or lose the property.

Never buy a condo or a house in a HOA.

Bri

 

[scott2000]

I know. I hope I have it wrong. So what do you do if you don’t have it? Get sued by the condo? Forced to sell with a 60K buyers premium?

That article kinda hinted at the fact that they'd foreclose on you.....

Typical with condos and HOAs. They assess, you pay or lose the property.

Yeah, but 60-150k all at once?..
I guess that article did say the lady moved in with her son out of state so she could go back to work as a teacher so she could pay for it/pay it off in a couple of years...I don't know if that means she took out a loan though....

you'd think there would be a mandated mortgage adjustment/refinance allowed but, that doesn't sound any better......

 

[Brian Roth]

Once again Condos and HOA's are an evil way to take away property....legally.

Bri

 

[fazer]

In the future you’ll own nothing and you’ll be happy 😃. Save enough money to buy a backpack tent though. Don’t worry be Happy.

 

[iomegaman]

My daughter bought a house in Marana many years back, it was in a HOA, fortunately she's a lawyer and read the fine print...they tried to fine her several times because the garage door color was "not approved" and complained about weeds a few times...she sent a cease and desist letter from her law firm and they shut up.

Some HOA's are just a cesspool of power hungry wannabe's who back down the minute you threaten legal action...but for the life of me I cannot understand why in the "Land of the free" we let this kind of crap exist.

I agree, never buy a condo and never join an HOA.

 

[JohnRoberts]

My daughter bought a house in Marana many years back, it was in a HOA, fortunately she's a lawyer and read the fine print...they tried to fine her several times because the garage door color was "not approved" and complained about weeds a few times...she sent a cease and desist letter from her law firm and they shut up.

Some HOA's are just a cesspool of power hungry wannabe's who back down the minute you threaten legal action...but for the life of me I cannot understand why in the "Land of the free" we let this kind of crap exist.

I agree, never buy a condo and never join an HOA.

Reminds me of the time I sued a sleaze bag businessman who owed me thousands of dollars. I had a handshake agreement with Rudy Bozak for royaly payments for a product I designed. After this sleazoid bought the company from Rudy he started jerking me around about the royalty payments. He insisted on formalizing the letter agreement but then had his lawyer load it with so many BS terms that nobody in their right mind would ever sign it. This went on for several months.

Then a unique IC (a CCD delay device) used in the SKU went obsolete, and he needed me to work on an immediate redesign to keep the SKU in production. By this point I figured out what he was up to and decided to return fire with fire. Since I was on very good terms with the IC maker they told me exactly how many of the special ICs Bozak had purchased, so I knew exactly how much royalty I was owed.

I hired a lawyer, paying him straight time to demand my money owed. IIRC it was only single digit thousands of dollars. I was rather angry so I asked my lawyer what it would cost to sue him. He said something like $300 to write and file the lawsuit, plus more depending on how it goes. I authorized him to sue if it seemed useful.

When my lawyer called the scumbag businessman he got the song and dance that on contingency terms the lawyer wouldn't make any money from this relatively modest claim. My lawyer informed him that I was paying him straight time, and had already authorized him to sue. My lawyer said he heard the businessman's a__hole pucker up over the phone. He agreed to cut a check on the spot. Apparently the sleaze bag was stringing along a number of other vendors with delayed payments so the threat of a lawsuit filing were the magic words to shake him loose. If the other vendors learned of a lawsuit they would all pile on too.
===
Then my lawyer asked me for a bonus because he got the settlement so quickly. I said hell no, then reminded him I was paying him straight time. I took him out to dinner to celebrate the victory, and we remained good friends for decades.

JR

 

[Spiritworks]

Reminds me of the time I sued a sleaze bag businessman who owed me thousands of dollars. I had a handshake agreement with Rudy Bozak for royaly payments for a product I designed. After this sleazoid bought the company from Rudy he started jerking me around about the royalty payments. He insisted on formalizing the letter agreement but then had his lawyer load it with so many BS terms that nobody in their right mind would ever sign it. This went on for several months.

Then a unique IC (a CCD delay device) used in the SKU went obsolete, and he needed me to work on an immediate redesign to keep the SKU in production. By this point I figured out what he was up to and decided to return fire with fire. Since I was on very good terms with the IC maker they told me exactly how many of the special ICs Bozak had purchased, so I knew exactly how much royalty I was owed.

I hired a lawyer, paying him straight time to demand my money owed. IIRC it was only single digit thousands of dollars. I was rather angry so I asked my lawyer what it would cost to sue him. He said something like $300 to write and file the lawsuit, plus more depending on how it goes. I authorized him to sue if it seemed useful.

When my lawyer called the scumbag businessman he got the song and dance that on contingency terms the lawyer wouldn't make any money from this relatively modest claim. My lawyer informed him that I was paying him straight time, and had already authorized him to sue. My lawyer said he heard the businessman's a__hole pucker up over the phone. He agreed to cut a check on the spot. Apparently the sleaze bag was stringing along a number of other vendors with delayed payments so the threat of a lawsuit filing were the magic words to shake him loose. If the other vendors learned of a lawsuit they would all pile on too.
===
Then my lawyer asked me for a bonus because he got the settlement so quickly. I said hell no, then reminded him I was paying him straight time. I took him out to dinner to celebrate the victory, and we remained good friends for decades.

JR

John, Am I correct that Bozak were based in Connecticut? Norwalk, IIRC?

 

[JohnRoberts]

John, Am I correct that Bozak were based in Connecticut? Norwalk, IIRC?

Yes... I was living in Westport when I first started consulting for him (back in the 70s). Rudy, RIP became a close friend. By the time Rudy sold his business (he had health issues), I was living outside of Hartford. Rudy drove up to Hartford with his wife and we had dinner a couple times.

I tried to get Ed Dell, publisher of TAA magazine to come down to Hartford (about half way for him from NH) to interview Rudy, but we never managed to get that done before Rudy passed.

JR