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random condo question

547 Views 3 Replies 2 Participants Last post by  Fern~Fern*
so there has been alot of talk at my work place of people looking into buy a home/condo. and that got me thinking, with all these new downtown condos poping up. what happens if you owed a condo in a smaller 2 story complex and the owner of the building wanted to sell the land to a developer? i assume it would be a different situation then a house were you physically own the building and the land. but a condo you only own a part of a building. do you get a 1:1 compensation? is it normally market rate for that kind of condo? let me know any input anyone out there may have.

not buying anything any time soon. just wondering
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no dude i mean in the distant future. like if you had owned the place for a long time and a developer contacted the building owner and it was to be demolished to make way for a larger building
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