Oh, yeah. Some people, as I understand it, and I could be wrong, are loosing everything. They can't pay the assessment(s) and the condo complex evicts them.
I think there is legislation in Tallahassee to extend the time the owner has to pay the assessments from one year to three, but I'm not sure what's happening with it (something else I should know by now).
I'm only looking at condo buildings and complexes that were built between '68 and '76 (I could go as far as '77 but I really don't want to because a type of synthetic pipe material and pipe connection that became notorious for failure was introduced around '77).
I'm not looking at new construction or any frame construction. I don't want it unless it's concrete block.
My grandparents' house in Tampa was concrete block. They bought it '63 and and it wasn't new.
Concrete block houses in Florida started in the '40's as far as I can tell.
These interiors are virtually sound proof. They don't excel during fires. They don't excel against floods if they're single story. But above the first or second floor in a concrete building is where you want to be in a hurricane. And the virtual silence and privacy in an urban environment can't be found any other way here.
I plan to have a buyer's agent and need to have a real estate attorney. I plan to methodically pull together every piece of information available on every unit I might buy.
I don't view this as an industry necessarily made up of people you can trust. I'd rather trust myself to do my own research.
