[Ali]

Hello,
Please help! My parents got totally ripped off. They live in VA and bought a condo in Hawaii (in Waikiki Banyan Hotel) 2 months ago for the tax break and to have a place to visit during the winters (they are retired). They decided a month later to buy another one at the same hotel a month later, although I tried to warn them not to, knowing their financial situation. Afterwards, they realized that they couldn't afford the payments on the 2nd one.. and then discovered that these properties are LEASEHOLD. The realtor did not tell them this when they bought these properties. (they did everything by mail) They have 25 yrs left before the lease ends. My question is: can and should they demand that the realtor who sold both properties sell one or both of them on their behalf at -0- commission since she was not open and honest about the fact that they were purchasing leasehold properties? Or can anybody refer me to a realtor in HI who'd be willing to give my parents a break and sell the condo(s) for them at less than 4% commission? Or should I try to use a service like www.help-u-sell.com?? From what I've just read about leasehold properties, they don't make any sense to buy. Should they just try to get rid of both of them NOW? My parents are thinking of keeping one of them with the hopes that the value will go up in the near future.. and then they can sell it for a profit. But is that a false notion? They took out over $100k in credit card debt as well as an equity loan, etc. I think a lawsuit would be too much trouble for them (they are in their 70s), but I'd appreciate any advice you can give me. Thanks in advance! --Distraught daughter in CA