Legacy Dunes Condos - Anyone know the deal?

[Nennie]

If you've looked to buy a condo in the Orlando area, you've probably come across Legacy Dunes. There are tons of bank owned and short sales starting at $25K.

Anyone know the deal?

We were considering buying one b/c they are so cheap, and thought it would be fun to have a condo to extend our Disney vacations.

Nobody will give us a copy of the By Laws though! Makes me think something is shady! We've had 2 different realtors promise to email us a PDF of the By Laws, but we've recieved nada!

Anyway, we aren't even interested in buying there anymore, but my curiousity still has the best of me! What was in the By Laws that nobody wanted us to see? LOL!!!

 

[LadyEMT]

Here is a page I found by Googling...

http://www.thepinkflamingo.info/200...ondos-in-kissimmee-why-they-are-so-cheap.html

It lists reasons why the author thinks these condos go for so cheap.

 

[Cheshire Figment]

That area is short-term rentals. From what I have seen in the local papers much of the construction has not really been good. It meets Code but that's all. There is a very high percentage of repossessions in that area, and if you buy a place you will find that the neighbors have noot been keeping up their property.

Hoiwever, if you can afford to buy it, keep up the association fees, and maintain it over the next ten years it may actually appreciate in value.