The due diligence you need to do before buying a condo

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Q: I purchased my condo in July 2021. Since then, the condo board put through a special assessment for $120 per month for the next 84 months to pay for “unsafe balcony” repairs. This was not disclosed at the time of my closing.

I’ve made two payments so far, and no work has begun, nor has there been any update furnished by the board. My attorney said there wasn’t enough money involved for him to pursue it. Also, a neighbor across the hall is paying a special assessment “in case the roof needs to be repaired.” My seller assumed that assessment of $5,000 at my closing.

We currently have no board president; [the previous one] resigned due to threats made to her. And another board trustee also resigned. There are two buildings with 12 units in each, and the monthly HOA fee is $280.

Is this a mess, or what? I’d appreciate your opinion. Thank you.

A: We certainly can’t say whether it’s a mess or not. We’re not living there. But we can share our perspective on what might be happening.

What we know from your question is that your association is going through with repairs to the building. On the positive side, it’s good that a board intends to maintain and keep its building in good shape. We’ve seen with the Surfside condominium collapse what can happen if a property does not maintain itself. On the other hand, owners get cranky about ongoing special assessments that never end.

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