Hot Once Again: Condominium Conversions

by Isaac Benmergui, Esq on September 25, 2013

Construction1The condominium conversion business in hot once again in Miami. Owners hoping to capitalize on the increasing health of the Miami real estate market are looking at their existing apartment building and figuring out a way to increase the size and marketability in the tri-county area of Miami-Dade, Broward and Palm Beach.

The process involves the owner of an apartment complex converting the property rights and ownership from a single entity to a community or homeowners’ association with multiple owners. The process of conversion is actually cheaper than building a condominium tower from the ground up, which can be a time-consuming and risky undertaking if units don’t sell. Existing properties that are converted often sell to residents already currently living in them.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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