05/04/2023
Closed in Highland Beach
$799,999
Let’s talk about assessments! What are they?
Assessments take place when a building does not have enough money in reserves to cover the cost of building updates. Due to the recent Surfside building collapse buildings are legally required to make sure the structural integrity of the building is stable. This building had a $160,000 assessment for a 2 bedroom unit. That means the owner must pay this in order to reside in the building or the building can force them to sell. In this case my buyer and I were able to negotiate an incredible deal on this particular condo and the building is moving forward to redo their structural engineering, all common areas including pool and gym. In two short years this building will be completely renovated and prices of condos will skyrocket!
Please contact me if you would like to learn more.
