billwright
Junior Member
What is the name of your state (only U.S. law)? North Carolina
We are looking at a Industrial/Commercial Condo in which you must PURCHASE. It comes with warehouse and office space, but is combined with 8 other possible places in this building. But your buying your own specific place and must pay association fees which is $100 per month right now.
My question is, currently there is NO tenants and they just dropped prices. We'd consider purchasing at this new price (or at least offer a price) but worried what might happen if they can't lease the others?
Could the Association fees go up it in 5 years only 1/2 the buildings are purchased (less owners = high payment for maintenance).
What if the BUILDER would go Bankrupt before he sells them all? Where would I stand and my piece that I purchased?
All questions that could concern me, let me know what you think.
We are looking at a Industrial/Commercial Condo in which you must PURCHASE. It comes with warehouse and office space, but is combined with 8 other possible places in this building. But your buying your own specific place and must pay association fees which is $100 per month right now.
My question is, currently there is NO tenants and they just dropped prices. We'd consider purchasing at this new price (or at least offer a price) but worried what might happen if they can't lease the others?
Could the Association fees go up it in 5 years only 1/2 the buildings are purchased (less owners = high payment for maintenance).
What if the BUILDER would go Bankrupt before he sells them all? Where would I stand and my piece that I purchased?
All questions that could concern me, let me know what you think.