Apparently, this is one of the dodgier parts of owning a condo. The condo we used to own had a structural problem - nothing major, but one that needed to be re

Apparently, this is one of the dodgier parts of owning a condo. The condo we used to own had a structural problem - nothing major, but one that needed to be repaired in the next several years, or else it would get worse. Getting the builder to pay up was very, very hard. Multiple shell corporations, numerous lawsuits, debates on whether this was construction defect, or an insurance claim. The way condo association finally won was by hiring a rather expensive law firm. It took several years, and in the end, a big chunk of the judgement went to the law firm. And this was for a rather large condo building with 170 units. We were lucky we won, or else all the owners would have had to pay a one-time assessment. My real estate agent at the time warned me to be careful about buying condos that are less than 5 years old, as that’s the typical time frame when various surprises come out. I am taking that advice to heart.