The Orlando Business Journal reports that a new state law could make life easier for investors looking to make bulk condo buys. According to current law, buyers who own more thanÂ seven condos can find themselves jointly liable when lawsuits are filed against the developer or builder.
Understandably, this is offputting to investor syndicates looking to pick up hundreds of units at fractured OrlandoÂ condo conversionÂ developments.
Helping bulk buyers will unltimately help the Orlando condo market stabilize because when condos are in foreclosure for more than a few months, the home owners assocations cannot collect fees and the threat of special assessments begins to rear its head.
Of course aquiring loans for these large bulk condo purchases is another matter, although there is some evidence to suggest that even this sector of the market may see some improvement in 2010 with the increased chances of condo loans.Â
Investors interested in Orlando condo bulk buys should call Condo Metropolis on 407-290-3408.