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Real Estate
Reply to "Disclosure for condo"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I actually think buyer is on the hook. When I bought a condo I investigated their finances. My condo had millions in the bank and it was enough to cover huge losses in one year. There wouldn't be an assessment if their finances were in good order. [/quote] But the issue isn't necessarily about the disclosure of finances. The issue is that the buyer didn't disclosure structural damage he most likely knew about. A letter was mailed to owners about the structural damage prior to closing on the condo. [/quote] And there are no mention in any condo documents at all -- association minutes, etc. of this structural defect? It seems highly unlikely that a condo would go swiftly from identification of a problem to a massive assessment. Usually there would be some deliberation about what to do or at least an identification of the problem you should have detected when you read all the condo documents (which you did, right?).[/quote]
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