- Sep 5, 2007
- Professional Status
- Certified Residential Appraiser
I had a very good client (really the good kind of client) ask a very interesting question. With the number of condominiums gong into foreclosure in many of the over-built areas (downtown Miami), what is going to happen to the other unit owners association fees? The scary question though, what happens to those fees when the developer still has many of the units left for sale and they go into bankruptcy? The only thing I could come up with was a drastic increase in those fees, and consequently additional foreclosures. Thoughts anyone?