Saturday, July 30, 2011

local condominium units posted for sheriff sale...for a day

These are tough times.  There are a few unsold units left in the development.  The developer failed to pay property taxes and the sheriff came and posted signs on ALL units.  The signs stayed up for a day, then presumably the taxes were paid and the signs came down.

This story was told to me last night by a unit owner who seemed slightly perplexed.  All I can say is that there are really nice things about the common ownership of condominiums but it comes with risk.  It's a team, not an individual form of ownership and there is always hope that all  the members of the team will perform well.  ;)

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