A short sale is a sale of an owner’s property where the proceeds from the sale will fall short of the balance of debts secured by the liens against the property. Nevertheless, because the owner cannot afford to repay the entire amount, the lien holders agree to release their liens on the real estate andGo to Resource
Newsletter
If your association is a condominium community created after July 1, 1992 (post-CCIOA), take a look at your property insurance policy and see if the association maintains a “bare walls” policy. If so, this insurance policy may be subject to challenge regardless of what your governing documents might require. A “bare walls” policy typically coversGo to Resource
Surveys have found that speaking in public is one of many people’s top fears. Perhaps that’s one reason why, when preparing for homeowner meetings, the president usually spends most of his or her time anticipating how best to handle difficult issues, and comparatively little time preparing for the president’s report. It’s natural for a presidentGo to Resource
Most properties are owned by individuals. Collections for unpaid assessments due from individuals generally involve lawsuits against the owners, leading to wage garnishments, bank garnishments, or tenant garnishments. However, occasionally a board is faced with attempting to collect unpaid assessments on a property owned by another type of owner, such as an LLC, a trust,Go to Resource
The art of contract negotiation is often overlooked when associations are contemplating hiring a contractor to provide a particular service or perform certain work. At the beginning of the relationship, everyone is on their best behavior and thinking that all will go according to plan. Often, boards fear insulting a contractor by pushing for aGo to Resource