Condo owners say they are being forced out in Miami

How can there be an "owner" of the building if there are individual condo owners? Don't the owners of the condos jointly own the building?

Sure, the developer would control the HOA, but the individual owners have rights, don't they? How can an owner of a unit be evicted from his own property?

It's interesting, but I'm not so curious as to be willing to do actual research to learn more about it.

Corporate America = Assholes

What do condo owners say again?

Sketchy law that's for sure.

We say we no leaving our house!

They got voted out by the majority of the unit owners - the joys of sharing a building. They should have taken the money and just fucked off.

Florida never disappoints.

Those high-rises are about to collapse unexpectedly, so this is working out very well for them.

Really horrible story. Im in a South Florida condo as well. This is truly is the wild west of real estate. One of the most expensive places in the US, hurricane threats, insurances companies pulling out, developers building at a rapid pace, shady property management companies and HOAs, crumbling 80s crack era buildings that are now worth millions because of their location alone, it just goes on.

r6, they are not offering the owners close to market value, which really should be illegal in this circumstance if these people are current on their maintenance. Water view is at least a million right now. An important part of the story is the significant deferred maintenance expenses. That is how the developer snaked their way into buying majority of the units, from freeloading assholes who just wanted to get off the hook for those payments and get out.

The condo owners were offered above market rate for their units. They will not be able to purchase a comparable unit for even that sum.

[quote] This is truly is the wild west of real estate. One of the most expensive places in the US, hurricane threats, insurances companies pulling out, developers building at a rapid pace, shady property management companies and HOAs, crumbling 80s crack era buildings that are now worth millions because of their location alone

California ?

Most condo HOA in Florida do not have the $ to make the newly required state mandated structural repairs. This means you are going to see more aging condos labeled as unsafe and the "owners" will be evicted or have to sell to developers as tear downs.

Look at the view from the windows. There is no way they can get another place with comparable views even with the sum they were offered. That is why they didn't sell.

[quote] That is why they didn't sell.

Six didn't sell. Over 180 did.

I wouldn't live in a tired old building built on water.