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Real estate Q&A: Can a board president thwart sale of your co-op?

Q: I inherited a co-op in a 34-unit building. I am not happy with the conditions and want to sell. The board president, who owns a majority of the units and rents them like a hotel, told me that I have to sell to him for a ridiculously low price. I told him that I would list it for market value and he laughed and told me that the "board" would never approve any buyer other than him. Does he have me over a barrel? – Bob

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