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Developer

  • Condo ‘Deconversions’ Soar in Chicago (IL) A growing number of Chicago condominium associations are looking to sell their buildings to developers for “deconversion” into rental apartments, according to GlobeSt.com, and current economic conditions have made residential developers willing to buy.    Read the article………….
  • Industry Perspectives — Quebec flood waters a reminder to build better: CCMPA On May 11, Prime Minister Justin Trudeau stood in front of a group of reporters in Gatineau, Que. He’d just taken an aerial tour to survey the area’s flood damage. With Premier Philippe Couillard by his side, he talked about the growing threat of extreme weather, and our need to prepare for it.  Read the article…………….
  • Development: Unique Condo Uses I’ve been working on a large number of condo developments in the past few weeks so I thought I’d take a few minutes to discuss some interesting uses for the condo concept.  Before the Act was amended in 1998 there was only one type of condominium – the standard condominium. It was used for residential, commercial, or mixed uses, or for high-rises, townhouses, and single-detached homes. The amendments created two main types: leasehold and freehold. Freehold has four subtypes: standard, phased, common elements, and vacant land. These new types added even greater flexibility to the condo concept allowing developers to get creative with their developments.    Read the article……………..
  • Ruling in Fairport Harbor condo owners’ association case headed for appeals court The attorney for a Fairport Harbor Village landowner filed a brief May 23 in the 11th District Appeals Court challenging a Lake County Common Pleas Court ruling involving its use of undeveloped land at a condominium development there.  The appeal stems from a case involving plaintiff Fairport Real Estate, LLC and Nautical Ridge Condominium Owners’ Association, Inc. and could determine whether the plaintiff would build multi-dwelling apartment buildings on yet-unused parcels spread among Nautical Ridge-owned and developed land, court records show.    Read the article…………

Developer Article Archives

Transition

  • A Checklist for Associations Transitioning From Developer Control (Pt 2) (DC) This article is a continuation of “Declarant Transition – Part I,” an overview of the laws governing the declarant transition process for unit owners’ associations in the District of Columbia. Part II, below, sets forth a transition checklist that should be addressed by the initial, unit owner-elected board once it assumes control of the association from the declarant.    Read the article……………
  • Developer Transition: MD Condos and HOAs – Part 2 This article is a continuation of “Developer Transition – Part I,” an overview of laws governing the developer transition process for condominium and homeowners associations in Maryland. Part II, below, is a transition checklist that should be addressed by the initial, homeowner-controlled board once it assumes control over the association from the developer.     Read the article…………….
  • Developer Transition: MD Condos and HOAs – Part 1 This is a two-part article dealing with “developer transition,” the process by which the governance of a condominium or homeowners association is transferred from developer to unit owner or lot owner control. Part I, below, is an overview of the legal requirements that govern the transition process. Part II will contain a “transition checklist” for transitioning owner-controlled boards of directors.     Read the article…………….
  • An HOA Checklist for Effective Developer Turnover Real estate is booming again, and new communities have been springing up all over the Atlanta area. As the final homes or condos are sold in each community, the developer turns the HOA or community association over to the owners. If your community is almost sold out, are you prepared to take financial control? Keep reading for some valuable tips.    Read the article……………

Transition Article Archives

 

Buying/Selling

  • Real Estate Advice: What to expect with condo documents (MA) Q: I am in the market for a condominium. This will be my first home. Can you explain the different documents I should be getting and the purpose of each?    Read the Q&A……………..
  • Why you need to check with the HOA about building defects before buying that condo I am planning to buy a condominium, which is part of a homeowner association (HOA). I observed that a couple of units have exterior issues. It looks like bubbles are in the siding. However, the unit I am looking at is so far good.  After inquiring more about these mysterious bubbles, I learned that there were construction defects in the material used (which was synthetic stucco) and there had been a lawsuit against the construction company.    Read the Q&A………….
  • Understanding the pros and cons of Homeowners’ Associations As a homeowner in an estate or boomed-off area, a buyer may be required to join a Homeowners’ Association (HOA), which means adhering to numerous rules and regulations stipulated by the HOA.   Read the article…………..
  • HOA basics: What to know before you buy Before signing on the dotted line for your new home, make sure you know what your homeowners association fees are and what they cover.  Because most new planned communities have HOAs whether you’re buying a detached home, condo or townhome, factoring in that added cost is a necessary part of your homebuying budget. And it’s mandatory.     Read the article…………….
  • When is selling entire condo building the best move? A condominium association enters into myriad negotiations for goods and services. Sometimes the best deal is to sell itself. That is, to sell the entire property to an investor or multifamily developer who will turn the condo units into apartment rentals.  The process is known as a bulk sale or deconversion, and it’s trending across the country.    Read the article…………….

Buying & Selling in a Community Association Archives