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Condo prices in Florida are dropping while the U.S. average continues to rise. ... a real estate agent in Orlando, told Redfin. In some cases, condos that once had a $400 monthly maintenance fee ...
However, if condo owners have a tough time selling, there could be a “ripple effect” on the amount of buyers looking to purchase single-family homes. Overall, though, Florida real estate ...
At the Palm Bay Yacht Club, condo owners were told they would need to pay for a $33 million construction project, prompting a group of residents to sue the condo board, the building management ...
The Florida Legislature passed condo reform legislation in a May 2022 special session as Senate Bill 4-D, addressing issues highlighted in the aftermath of the Surfside collapse. [206] It was modeled on the 40 year recertification [207] scheme. [208] The bill creates a state-wide inspection program for condo buildings taller than three stories.
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
Membership in a condo is obtained by buying the shares on the open market, most often through a real estate agent. No board approval is needed to buy shares, but in some cases other stockholders or the housing cooperative itself has the right to claim the stocks being sold. There is usually no requirement for the owner(s) to live in the condo.
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