General condo purchase question

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mvgrl_IHB

New member
Maybe I should start a new thread, but I have a general condo purchase question.



What happens if you buy an older condo and there appears to be some sort of structural problems? My cousin bought an older condo during the height of the housing boom and every time I visit I get dizzy because the floors are not level. You can really tell upstairs when you sit on the toilet because your entire body is tilted one direction. The condos are built over a parking garage and there appears to be some sort of problem with the drainage from the common landscaping. I visitied yesterday with 9% humidity and 90 degree temperatures and there was still tons of standing water. He didn't get a proper inspection because he was in such a hurry to buy (any kind of properties in this price range in his area were grabbed within a day of listing).



Who would be responsible for fixing this - if it is fixable? If the entire place is deemed uninhabitable (extreme scenario), does the insurance cover this or the homeowner dues? Is there anyone you can sue?
 
I asked this in another thread, but maybe I should start a new topic.



What happens if you buy an older condo and there appears to be some sort of structural problems? My cousin bought an older condo during the height of the housing boom and every time I visit I get dizzy because the floors are not level. You can really tell upstairs when you sit on the toilet because your entire body is tilted one direction. The condos are built over a parking garage and there appears to be some sort of problem with the drainage from the common landscaping. I visited yesterday with 9% humidity and 90 degree temperatures and there was still tons of standing water. He didn?t get a proper inspection because he was in such a hurry to buy (any kind of properties in this price range in his area were grabbed within a day of listing).



Who would be responsible for fixing this - if it is fixable? If the entire place is deemed uninhabitable (extreme scenario), does the insurance cover this or the homeowner dues? Is there anyone you can sue?
 
[quote author="mvgrl" date=1226907587]I asked this in another thread, but maybe I should start a new topic.



What happens if you buy an older condo and there appears to be some sort of structural problems? My cousin bought an older condo during the height of the housing boom and every time I visit I get dizzy because the floors are not level. You can really tell upstairs when you sit on the toilet because your entire body is tilted one direction. The condos are built over a parking garage and there appears to be some sort of problem with the drainage from the common landscaping. I visited yesterday with 9% humidity and 90 degree temperatures and there was still tons of standing water. He didn?t get a proper inspection because he was in such a hurry to buy (any kind of properties in this price range in his area were grabbed within a day of listing).



Who would be responsible for fixing this - if it is fixable? If the entire place is deemed uninhabitable (extreme scenario), does the insurance cover this or the homeowner dues? Is there anyone you can sue?</blockquote>


I'm not sure about insurance or HOA liability, but regardless of the situation I think having an estimate/appraisal of the problem would be a good starting point.
 
[quote author="mvgrl" date=1226907587]Is there anyone you can sue?</blockquote>


Of course. These days, <em>anyone </em>can sue <em>anybody </em>over <em>anything</em>. But that doesn't mean he should. I'm no expert but it seems like there are way too many variables in this story for any of us to determine who's liable for what and what can be done. Nobody here has seen the property and does not have all the information. The only responsible advice you could receive would be to contact the HOA or an attorney with your concerns. The fact that he forfeited an inspection and satisfied himself as to the home's condition without one speaks volumes, though. Good luck.
 
<blockquote>The fact that he forfeited an inspection and satisfied himself as to the home?s condition without one speaks volumes, though. Good luck.</blockquote>


<strong>If it breaks in half he will own both halves.</strong>

If he signed inspection waivers and accepted the property "as is" from a private party then he pretty well is "up that well know tributary with no means of movement?.
 
One word... litigation. There is a Tustin Ranch condo complex that was built in the 90s bust that has structural issues. It is a PITA. And, good luck on getting a loan on place that is litigation, lenders will not touch it. It is a double edged sword, that unfortunately can only be solved by an attorney.



Sucks for your friend, but you should let people know where this complex is, so that people will not buy there. You should also find out who the builder is, and let people know to stay away from them as well. That is if they are still around.
 
I was thinking about this, and came to the same conclusion as Graph. I just don't see anyway around it....



That is going to suck though.

good luck

-bix
 
This thread is also found here:

<a href="http://www.irvinehousingblog.com/forums/viewthread/3719/">http://www.irvinehousingblog.com/forums/viewthread/3719/</a>
 
DISCLAIMER: THIS IS NOT A LEGAL ADVICE, CONSULT AN ATTORNEY FIRST, BUT THIS SHOULD POINT YOU IN THE RIGHT DIRECTION:

That condo appears to have some construction defects. If it has been 10 years since it has been built (the exact date can be the date of notice of completion, close of escrow date, city's final inspection date), your friend cannot sue the builder b/c of the statute of repose that bars claims against the builder after a certain period of time regardless of when the defect manifested itself.

If the problem is with the exterior, like the foundation or soil issues, your friend has a chance of going after the HOA for repairs or after the sellers if they knew about the defects, the defects were latent & material, and they failed to disclose what they knew.

Bottom line: CONSULT AN ATTORNEY. There is plenty of lawyers who take cases with good probability of winning on contingency-type fee arrangement, where you would usually only pay the costs, but not the attorney's fees. Most attorneys offer a free consultation, so make sure you are clear on whether you are going to see one of those attorneys who don't charge for the initial consultation.

As to the insurance, are we talking about the homeowner's protection plan? I doubt it would cover patent construction defects.



PM me if you want some referrals, or just check with calbar.org's lawyer referral service, they would be able to give you a few names.
 
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