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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jack of All Trades who wrote (3381)	7/12/2002 3:28:32 PM
From: MSI	Read Replies (1) \| Respond to of 306849

I passed on an opportunity to develop a multiunit condo property when the builder told me of the huge liability California, that extends for 10 years AFTER completion and sale. The condo buyers HOA gets solicited by predatory attorney firms who go after builders' and their insurance firms, looking for properties before the 10-years expires. It's getting to be like medicine where doc's primary expenses are predatory attorney and insurance costs, rather than medical care for their patients. The choice was to pay the thieves, go without insurance (which would have increased the bond and other costs, but would have been do-able), or pass.