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  1. #1
    Join Date
    Jun 2011
    Posts
    1

    Default Non Warranted Complex

    I live in a complex that is non warranted. The devleoper still owns the majorty of the units. Some low to moderate income units are for sale, however all the market value condos are not. As a result I cannot refiance my condo or sell it (which I would rather do) It does not seem that the developer is putting much effort in selling the market value homes. The complex was designed and bulit to be sold to individual home owners and not to be rented out. Is there any way to force the developer to sell the homes and seek out lending? If I have no option to refinance or sell because it is non warrnted can I walk away from my home without ramification. The complex is misserable and the developer and his partners are the only ones who sit on the board and make all the decisions, while the few home owners who reside in the complex have no say. Thanks

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Non Warranted Complex

    If you want, you can round up investors, buy the remaining housing inventory, then sell it as you and your investors see fit. If you believe you cannot do so without taking a financial bath, similarly, the present owner doesn't have to suffer a massive financial loss merely because it might benefit you.

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