Millions Owed, Water Shut Off — Florida Condo Owners Desperate!

Описание: In today’s video, we’re diving into the shocking bankruptcy filing of Green Terrace Condominiums in West Palm Beach, Florida. The condo association owes over $1.4 million to the City of West Palm Beach for unpaid water services — a staggering debt that has pushed the community into financial turmoil.

But Green Terrace isn’t alone. Across Florida, we’re seeing a sharp rise in condo associations facing bankruptcy and individual owners slipping into foreclosure. From skyrocketing condo fees and steep special assessments to aging infrastructure and stricter maintenance regulations, many Florida condo owners are feeling the financial squeeze.

We’ll break down:
✅ Why condo bankruptcies are rising in Florida
✅ How special assessments and rising fees are pushing owners toward foreclosure
✅ What this means for current and prospective condo owners
✅ House Bill 913 — a new piece of legislation designed to offer relief and protection to Florida condo owners

Whether you own a condo, are considering buying one, or just want to stay informed on the Florida real estate market, this is a must-watch.

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Disclaimer: I am not a lawyer, CPA, or financial advisor and any info in this or any of Palm Beaches Paul's videos are my opinion only and for entertainment purposes only. I am a licensed Florida Realtor (BK-3265266) and can only advise you about buying or selling in the state of Florida; however, I can refer you to an agent in your state if needed (I will earn a referrall fee ). Do not base your decision to buy or sell real estate solely from watching any of Palm Beaches Paul's videos and always consult a licensed professional or lawyer.

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