You have been asked by your boss to go get all the 50 owners of Surerich Gardens together to agree to a collective sale of Surerich Gardens . Surerich Gardens is 15 year old condominium development which has the potential to be redeveloped into a 200 unit condominium development . What are the problems you are likely to face in your assignment and what are the ways in which the owners can do the collective sale???
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That would depend upon the laws of your state and the condominium organization documents. However, one common element would be to get the owners to agree to sell. One potential approach would be with option contracts.