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| When I purchased mu duplex condo (garden and 1st floor) in a 3 family 1890;a Queen Anne Victorian pver a year ago, the idea was to replace the spiral staircase, move kitchen upstairs, update bathrooms and to build in more closets. The demolition began 10 days ago I immediaely was faced with advising the other 2 owners in the condo building that the exterior walls had no insulation, were not properly footed, and tghat the joists supporting the entire building were built directly on dirt with stones wedged underneath at some points. All easy to see when tearing out a termite infested common interior wall or examining the rotting ends of the beautiful hardwood floor.
The association had a structural engineer hired to work with architect and develop an economical solutgion. It was determined that the support walls did not need to be underpinned but the end walls were not under the frost line and would require the demolition of concrete slabs with storm drainage to install a frost wedge and rebuild the slabs. Additionally, the architect included 6 metal columns on pilings where the termite infested wall once stood since it had become load baring over the years. The rest of the dirt excavated to a level so that they may add gravel, 4" slab and vapor barrier to a level equal to where the floor currently sits. This would also require the demolition of 3 common storage closets and the original common stairwell to be substituted with a custom stairwell. Total cost of this job was quoted at just under $24k, The problem that neither i nor the other 2 condo owners able to afford this repair. Since it was only convertede to condos with our purchase just over a year ago, our inspectors did not perform structural tests that may have revealed these issues. Does anyone have any experience or advice about the remedy, remuneration or the most expedient way to proceed given that I am homeless and my renovation is at a standstill unti the Association resolves.this. |
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| You have the solution provided by a structural engineer at a reasonable cost. If three owners can't come up with $8k each, even by a building loan, I would question what they were doing buying a 120-year old building without a complete inspection by a structural engineer in the first place. Any legal remedy against the inspector you did hire will likely fail because of the exclusions that were likely in his report; and he may be judgement proof anyway. Maybe the building can be sold as is. (Cold comfort, I know.) |
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| No lawyer here, but you might have recourse against the original owner. You will have to prove that he KNEW and did not disclose these problems. The realtor could be on the hook for the same reasons. Otherwise, and more than likley, you are out of pocket on this one. |
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| Your condo docs should guarentee the structural safety of the building at the Condo Association's expense. You should be able to force the cost of repairs on the other owners through an assesment. Associations are not a democracy, they have responsibilites to the building. Get the docs and review them. If you do not understand them, then get a lawyer. It costs, but a lot less the the 24k out of YOUR pocket, or a fire sale. |
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| pandora You really opened the box on this one! My contribution is 46% and the other owners pay 27% each. The benefit in resale to them is nil. Each of our inspections excluded termite inspections and other building inspections because it is a condo and the Association is responsible for the structure. So even if the association must pay for the repairs, the cost still falls half on your head. The association has no funds other than what the three unit owners provide. And if you're all truly indigent, all the special assessments in the world won't get you a cent. I wonder what lender advanced funds without a proper inspection of the property and assessment of the mortgagors' covenants. |
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- Posted by pandora_2008 (My Page) on Tue, Feb 5, 08 at 15:39
| Thanks for your replies and you have all reiterated what I knew but was hoping for otherwise. As for inspctions, when buying a condo, most inspections exclude the common elements from their reports. They are interested in looking at what is passed from owner to owner. As to a comment on selling the building, it is not ours to sell. It is owned by the legal entity otherwise known as the Condo Association yet the Association cannot use the building to finance a loan.. each condo owner would need to guarantee the funds. As to being able to afford the repairs. I had already committed $85k per the contractor's quote to my rennovation plus left a 10-15% overrun cushion. In the first two weeks and allocating only my contribution to the Assocation's repair, I am facing 20-25% overruns. So do I scale back on those finishes that really do enhance the condo's value to make the necessary changes that will not impact condo's market value in the least (in fact, it will impair it if a special assessment lingers at the time of sale). I cannot speak to my neighbor's finances and couldn't tell you their ability to pay... it just sucks though. |
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| The problem that neither i nor the other 2 condo owners able to afford this repair. ....I cannot speak to my neighbor's finances and couldn't tell you their ability to pay... Which is it? Maybe they're in the same boat as you. So maybe they, too, can direct their funds to take care of the most pressing common area structural needs first. when buying a condo, most inspections exclude the common elements from their reports. They are interested in looking at what is passed from owner to owner. When you buy a condo, you also acquire an interest in the common elements and it's imperative that you know what condition they're in. I don't know your jurisdiction. But in Ontario, condo buyers are entitled before purchase to a "status certificate" (previously estoppel certificate) wherein the developer is required, amongst many other things, to provide documentation regarding the physical status of the building. As wianno points out, you may have a cause of action against the developer. The Association, as well as the individual unit owners, would be wise to contact a lawyer. It's an unexpected cost, but it doesn't sound overwhelming |
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| Again, the docs spell it out, or should. The repairs are structural and effect all owners. You really MUST do them, its in everyones best interest. If you pay, then assess, the owners must satisfy the assessment before selling. You may have to wait for the money. Its in no way ideal. I am sure that the association owns to "the back of the plain of the drywall" or something like that. |
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