Aren't you tired of dealing with Associations that act like the maffia? I own a beautiful 3/2 and 1/2 townhouse in Riverwood (like 5 minutes from Aventura mall). In February, I put an ad for sale in the paper and sold it asap for $283,000 to a nice family from Venezuela. Having peace of mind that it was a "rock solid deal" (no contingencies, good deposit,mortgage approved, they loved the property), I put a contract on a condo. A week before closing, I got a letter from the Association in Riverwood saying that they did not approve my buyers. When I asked why, they said "there were inconsistencies in the application". Apparently there was a letter of reference missing. My buyers promptly corrected that and had the letter sent. I got a call from Riverwood saying they still didn't approve them. To make the long story short, after a month of phone calls, letters, etc., they still refused to let me close without any specific reason. I had to return the deposit to my buyers and let them go. We couldn't find a reason and it still doesn't make sense, they had no legal problems, excellent credit, mortgage approved. Is it possible the board didn't want another latin family in the development because they are afraid of being "replaced" in the next elections by a Spanish speaking board?My attorney advised me against filing a lawsuit saying that it would be very difficult to prove and I could end up losing thousands in legal fees...I still have the townhouse for sale, I drastically reduced the price since I need to sell it. It's now listed at $275k with 4% commission but I would be willing to go even lower and consider any offer. The MLX number is M1093045. Please take a look and let me know what you think about this whole situation. I will appreciate any suggestions, advise and imput you can give me. Here's a pic:
May you have joy and success in all you do,
Patricia
Comments(7)