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I would strongly advise against buying a condo in the current environment. I am fighting to have structural issues with a building I own a unit in dealt with, a
by ocdtrekkie 5y ago
I would strongly advise against buying a condo in the current environment. I am fighting to have structural issues with a building I own a unit in dealt with, and it's quite the thing.
One of the things I find amazing is how unclear the declarations of responsibility are. For instance, there's common elements, which the association is responsible for, and limited common elements, which are elements that you are responsible for, but the association can demand you fix as needed for the benefit of the building whole. I think there's a third category of building limited common elements. Also, I have a garage, but it's not actually mine, I own the right to exclusive use of it, but not the garage itself, but I also end up on the hook for repairs when it breaks...
What's fun about that is associations basically place the unit owner responsible for all the likely-to-need-work elements that are exterior. Like windows and the balcony, despite both being exterior building elements, the latter made of the same structural concrete as the rest of the building. But if they need to resurface the balcony, you're going to pay for it, and they're just going to tell you how much you have to pay, or else. (I believe my grandmother once got a $15,000 bill for the balcony at her place, and that's just a mandatory special assessment the association can decide to employ. Good luck if you're living paycheck-to-paycheck.)
And then there's just stuff that's completely unlisted in the terms: Building structure is the association's problem, the drywall is generally defined as a unit owner's problem. You know what isn't mentioned at all: Insulation, which is outside the drywall, but not structural. The building can probably refuse to deal with it, and your insurance company can probably refuse to cover it.