Quote:
Originally Posted by secondcurve
The one hidden danger with places like brooksby is you aren’t actually buying a condo. Said another way there is no security for your “buy in”. If Brooksby goes bust you have an unsecured bankruptcy claim. It’s happened in the past. See the attached article https://www.fa-mag.com/news/american...ust-80550.html |
Very interesting. I did not check this before they moved in, but Brooksby has all the qualitative signs of a well financed stable place, and I've had aunts and uncles living there for decades. If I had to do this again, I would check more carefully on their parent, as you suggest. (Separately, I would not say that a condo is risk-free wrt exposure on others' potential financial woes.)
Nevertheless, I would still recommend Brooksby unreservedly to any whose life-stage/financial situation fits