Owners association gets condos at foreclosure sale

sjones@thesunnews.comDecember 6, 2013 

— The Grand Strand’s condominium market continues to inch forward and that may be a good thing for the North Towers Property Owners Association at Barefoot Resort.

The association recently paid $25,000 each for 15 condominiums that it bought it a foreclosure sale. The condos had been owned by Premier Resorts International, a property management company that listed Barefoot Resort among its mainly ski resort properties in the U.S. and Canada. Most of the properties it managed were at high-end destinations such as Park City, Utah, and Whistler, British Columbia.

But Premier Resorts is no longer in business, according to the website of the Better Business Bureau, and Internet listed phone numbers for some of the company’s properties are no longer in service.

Attempts to reach someone at the association were unsuccessful, but it got the condominiums as bargain basement fire sale after Christmas prices compared with the prices of some units in the building now for sale. According to online listings, asking prices for North Tower condominiums range from $225,000 to nearly $500,000.

Anna Magann, the attorney who represented the association in the foreclosure proceedings, said she wasn’t sure just how accurate the county records were in calling the units condominiums.

Some, she said, were little more than passageways from one part of the building to another while others provided what limited access there is to some of the building’s mechanicals, such as heating and air conditioning.

She said she guessed that Premier Resorts may have used them as rentals.

Contact STEVE JONES at 444-1765.

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