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Posted by Snoozer Intractable Boards of Directors, and wannaby corporate moguls can tie up projects for years. Egocentric small minds that are incapable of leading...even a meeting. Directors that openly flaunt their pseudo importance by disregarding rules and procedures they force on everyone else. Democracy at its ugliest, is a condo. The added attraction of being boat slips puts them over the top. If you are offered a great deal on one, there are probably more that a few problems. The problems could range from boundry disputes, to sewer malfuntions. The fact that we are in the Keys, exacerbates any problem. The addition of 'investors' looking for a quick flip and not willing to invest in infrastructure, adds another fold. Although marinas are disapearing, it is still better to rent a slip than loose your investment.
on September 3, 2006, 6:15 am
205.188.116.134
Buyer beware does not come close to expressing the pitfalls of condo boatslips. Even if you rent one, you are not immune to the some times bizare thinking of the management of these real estate nightmares. Buying one could be financial suicide in this market.
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