When a real estate transaction doesn't go as planned or costs run too high, it's possible that the development of the real estate will have to be stopped and that it will need to be auctioned to pay back the debts that are owed. That's what is happening in this case involving the development of a condo tower in New York. For buyers, this is in opportunity to purchase a building at a lower price, while the seller gets out of debt by going through bankruptcy or selling the real estate development opportunity to others with the funds to see it through.
There are a few different kinds of property ownership that you might be considering if you own real estate. These transactions aren't only for buying or selling a property; they can help you protect your real estate if you are getting older and want to provide it to beneficiaries later.
When a real estate dispute erupts between a housing authority and a tenant, the results may not be in favor of allowing a tenant to stay. In some cases, this might violate a tenant's rights, in which case a tenant might want to appeal. That's what's happening in this case, which has caught the media's attention.
If you're dealing with a real estate dispute, there are a couple of alternatives to going to court. You can go to mediation or arbitration, both of which help you resolve disputes more quickly and at a lower cost than heading to court. Alternative dispute resolution methods are good for situations where you're arguing over the cost of repairs, money disputes, inspection issues and your claims of misrepresentation, among a number of other claims.