Condominium associations complain about delinquencies but it appears to be a case of crocodile tears

Out of the 8 associations, only 4 responded to me withe the pay-off amounts within a couple of days. Kudos to them as they were smaller management companies or on-site managers who appear to have a grip on the finances of the associations they manage. The other 50% are taking weeks to get me this information. One association took 3 weeks, sent me from on-site manager to management company to collection attorney and back again at the low price of $ 450. Yes $ 200 for the attorney and $ 250 to the management company that told me to contact the attorney !

Two of the managers refused to give me access to the unit until they receive payment ! How smart is that especially as they do not have the right to lock out the owner just bar them from using the amenities. Plus I am here to help and expedite payment to them as I represent the new owner, the bank. Very smart to take out their frustrations on the realtor who wants to secure the property, assess damages and sell the property to a paying property owner as soon as possible. This behaviour defies reason !

The rest are charging $ 150, collecting the fee but not coming up with the goods. Kind of scary that a condo association would not be able to give anyone the pay off on a delinquent unit within 24 hours.

Come on, let’s work together and be efficient. Not every process in real estate needs to take weeks, it could take hours if you work at it, reducing the time to get a financially healthy owner into a foreclosed condo and hence getting the associations back to financial stability as well.