A special contribution to get the co-owners out of Tamarac? – WSVN 7News | Miami News, Weather, Sports
(WSVN) – A group of investors have served on the board of a condo association, approved a large special assessment and said it must be paid by unit owners by August 1. Can they do this? Find out in tonight’s Help Me Howard with Patrick Fraser.
Arbor Key is a lovely affordable condo complex in Tamarac.
Maria Chaux: “I have lived here for a long time. I like the place.
The 232 condos are also on much of the real estate developers would like to have.
Patrick Fraser: “Trying to take ownership?”
Harvey Brown: “That’s right, exactly.”
Harvey came to this conclusion after four people bought about 50 units at the Arbor Key condo, got themselves elected to the board of directors, and in late June passed a special appraisal of more than $5.1 million that the owners must pay in one lump sum.
Harvey Brown: “Twenty-two thousand [dollars]. I must achieve this by August 1st.
It’s true. Each condo owner has until August 1 to pay between $20,000 and $24,000 for the appraisal.
Maria Chaux: “We don’t have that money.”
That’s impossible for Maria, who struggles to survive on her $1,100 a month pension.
Maria Chaux: “You see, I have very low incomes. It’s hard for us. »
If they don’t pay everything by August 1, residents said, they will be sent to collections.
Harvey Brown: “I said they might be crazy. It’s the only thing that comes to mind. I say these people are crazy.
Iris Gonzalez owns two units in Arbor Key and has previously served on the board.
Among the repairs: the roof, the swimming pool, the awnings. They are necessary, she says, but it will take a few years to get the job done, and she says residents should have those two years to pay for the assessment.
Iris Gonzalez: “Little by little with payment plans, so that people can breathe, not to suffocate people, because not everyone has the same economic situation as certain investors.”
Already, owners like Maria and Harvey are being called by a real estate agent who says she represents an anonymous buyer who wants to buy their condo.
Ernesto, who owns a few units here, says he can see what’s going on.
Ernesto Cuellar: “They want to put as many people as possible in foreclosure. Once the property comes on the market, they will buy it, and they will buy it cheap.
Good for investors, who might even demolish the condos and build more expensive buildings on the acres of land.
Ernesto Cuellar: “They want to maximize their profit, and they don’t care who they harm along the way.”
Well, Howard, what can a co-owner do when a board of directors makes decisions that could cost him his house?
Howard Finkelstein: “The simple solution: call the board back and throw them out with their lump-sum special assessment. The second solution: Go to court, show a judge what you think is going on, and ask the judge to remove the painting and temporarily appoint someone to fix things at the property.
I started checking. Companies owned by board member Benjamin Jones own at least 40 units, paying between $85,000 and about $115,000 per unit.
I emailed him and called him. He wouldn’t answer.
Only the fifth council member would speak. Alberto Conde told me that he had voted against the special assessment, that he was resigning from the council because what was being done to the owners was not fair.
Iris Gonzalez: “Give people a payment plan.”
This is what owners who are not wealthy investors want. It’s what they need to stay in their condos.
Harvey Brown: “I’ve had sleepless nights every day since I got that letter. I do not know what to do.
Well, maybe he’ll sleep better soon. 180 owners like Harvey fight back and do what Howard suggested. They’re going to try to call the board back, and they’ve hired a lawyer if they have to go to court.
We see this happening in many condo complexes, so we’ll let you know who will win this battle over buildings in case your complex faces the same type of takeover.
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With this Help Me Howard, I’m Patrick Fraser, 7News.
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Reporter: Patrick Fraser at email@example.com
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