Anonymous
Post 11/19/2023 23:13     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Some really awful DIY wiring from the previous owners, hidden behind drywall. Didn't show up until we tore that wall down to renovate. I'm just grateful the house didn't burn down by then!
Anonymous
Post 11/19/2023 23:13     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
I didn't get the keys after closing. I was 25 and clueless. A few days later and still wanting to get into my new house, I demanded a rent back and they finally gave me my keys. That night the developer came by to appologize and give me a 6- pack as a house warming present.
Anonymous
Post 11/19/2023 23:12     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Anonymous wrote:
Anonymous wrote:I don’t understand how you could not perceive the difference between a townhouse and a condo with a downstairs neighbor before closing unless you had never seen the property in person?


Condo is a form of ownership. Many townhouses with a downstairs unit containing a neighbor have condominium ownership. A townhouse can have fee simple ownership and also have a downstairs neighbor in an accessory dwelling unit.


It's...not a townhouse if there are upstairs and downstairs neighbors. I've seen DC row houses like this, but those were previously single owner town homes that were broken into a condo at some point.
Anonymous
Post 11/19/2023 23:08     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I thought I bought a townhouse but it was a condo. They only used the word condo in the legal paperwork. Of course it’s obvious to me now.


I’m a transactional real estate attorney. I used the draft condo and hoa association docs. An HOA is legally a condominium turned sideways. They are effectively indistinguishable. What do you think is different about the two?



In my case the condo was poor quality and the walls were paper thin. I could hear everything my downstairs neighbors said. If it were a townhouse I would not even have a downstairs neighbor. It was a 2 level condo that looks at first glance like a townhouse. So mostly the problem was poor quality. Not merely the fact that it was a condo. But it was misrepresented because it was conspicuously labeled as a townhouse on all their documents and advertisements prior to closing. In my opinion a condo should cost less than a townhouse. The word condo would have been a turn off to me in my search for a townhouse. So their misrepresentation fooled me.

Um, how did you not realize it was a condo when you visited and saw that the building had more stories than your unit had and multiple front doors? This sounds like a you problem.


Don’t be an ass first of all.

It was a 2 story building. Again. Don’t be you.


I also don't understand this - if it's a two story building, were there two levels underground? How did you not realize upon visiting it that there were not people above or below your place?
Anonymous
Post 11/19/2023 23:04     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Anonymous wrote:Not quite after closing but we didn’t the condo docs until a few hours before close and realized our townhouse style condo didn’t allow dogs. We didn’t have a dog yet but had planned on one. We still closed. After close we realized stack washer and dryer didn’t work.

Where do you live? In VA, we had three days to review HOA docs immediately after going under contract. Our home inspector also tested out the washer and dryer, and we tested it out again at our walk through. Not sure how you missed these things.
Anonymous
Post 11/19/2023 23:00     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I thought I bought a townhouse but it was a condo. They only used the word condo in the legal paperwork. Of course it’s obvious to me now.


I’m a transactional real estate attorney. I used the draft condo and hoa association docs. An HOA is legally a condominium turned sideways. They are effectively indistinguishable. What do you think is different about the two?


And this is why every time someone says to just hire a real estate attorney, I laugh.

First, in a condo you don't own the land beneath you. In a townhome/HOA, you do. What this means for who maintains the common space and yard is definitely in the docs but owning land vs not owning the land is a pretty significant difference.

Second, in a condo you get "walls-in" insurance. In an HOA you have to insure the whole structure. Walls-in will only cover your contents and a per diem if you are displaced. However, it will not help your mental state when the insurance companies dick around with each other trying to decide who pays what. I've had clients displaced out of condos for 6 months when there was a flood and the insurance companies took their sweet time getting back to everyone.

Third, condos only require firewalls between every 4th tier typically. That means, if you're in one of those stick built garden style complexes and your neighbor torches the place with their cigarette, your home goes up in flames too. In a townhome, there are required firewalls between each unit.

There are other differences but I would say that not understanding you bought a condo over a fee simple townhome is a failure of many people in your transaction. I'm sorry. I do not do business like that. But I know morons who do.

xoxo,
Agent X


Yeah, I'm going with the lawyer here. I'm glad they taught you the term fee simple in your 40 hour real estate agent course. You're a typical arrogant agent with far too little education.


Au contraire my small minded friend. Advanced degree over here. Tired of working for the man and decided to run my own gig.

The lawyer is totally wrong. But please go buy your next house with him/her and let me hear how they can argue that condos and townhome hoa’s are “basically the same.”
Anonymous
Post 11/19/2023 23:00     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Anonymous wrote:
Anonymous wrote:I don’t understand how you could not perceive the difference between a townhouse and a condo with a downstairs neighbor before closing unless you had never seen the property in person?


Condo is a form of ownership. Many townhouses with a downstairs unit containing a neighbor have condominium ownership. A townhouse can have fee simple ownership and also have a downstairs neighbor in an accessory dwelling unit.


I lived in a condo that was a two story townhouse, no neighbors above or below and no different in appearance than a townhouse. The difference is it was incorporated as a condo so we had walls in ownership. You would have no idea until receiving the paperwork for HOA or condo association.
Anonymous
Post 11/19/2023 22:37     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I thought I bought a townhouse but it was a condo. They only used the word condo in the legal paperwork. Of course it’s obvious to me now.


I’m a transactional real estate attorney. I used the draft condo and hoa association docs. An HOA is legally a condominium turned sideways. They are effectively indistinguishable. What do you think is different about the two?


Is there a difference in what the master insurance policy covers? I know our condo townhouse the exterior structure is covered by the master and our personal policy is studs in. Is that how it is for an HOA?


No, in a Homeowner's Association, the fee simple owner is responsible for the entire structure up to the middle of any party wall diving the housing units. They are responsible for their homeowner's insurance, and the HOA generally has insurance on common areas.

The same can be true of condominium ownership. Although it isn’t common, you can have condominium ownership with a mix of single family homes and townhouses, where every owner in the community is responsible for structural maintenance and the association is responsible for shared common areas, very much like a HOA. Within a single development, there might be multiple associations, with the housing type (SFH, TH, two over, etc.) dictating specific association membership.

With fee simple ownership, you “own” the land beneath your home, but, practically speaking, the rights you have under your HOA may be very similar to many condos. HOAs commonly require owners to maintain the existing look and feel of the home and prohibit structural and aesthetic changes that deviate from the community design aesthetic. As some examples, recorded HOAs and condominium association agreements can both dictate what sorts of vegetation you can grow, whether you can let pets roam outside in a yard, and whether you can install solar panels.

No matter what type of ownership you buy, it is important to review the HOA or condominium association agreements before closing. Never make assumptions about rights you have.
Anonymous
Post 11/19/2023 22:29     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I thought I bought a townhouse but it was a condo. They only used the word condo in the legal paperwork. Of course it’s obvious to me now.


I’m a transactional real estate attorney. I used the draft condo and hoa association docs. An HOA is legally a condominium turned sideways. They are effectively indistinguishable. What do you think is different about the two?



In my case the condo was poor quality and the walls were paper thin. I could hear everything my downstairs neighbors said. If it were a townhouse I would not even have a downstairs neighbor. It was a 2 level condo that looks at first glance like a townhouse. So mostly the problem was poor quality. Not merely the fact that it was a condo. But it was misrepresented because it was conspicuously labeled as a townhouse on all their documents and advertisements prior to closing. In my opinion a condo should cost less than a townhouse. The word condo would have been a turn off to me in my search for a townhouse. So their misrepresentation fooled me.

Um, how did you not realize it was a condo when you visited and saw that the building had more stories than your unit had and multiple front doors? This sounds like a you problem.


Don’t be an ass first of all.

It was a 2 story building. Again. Don’t be you.


I'm a NP but I am also confused? Not being an. a s s. But like, a townhome is a townhome. If your entrance is on the second level of a building, then quite clearly it's not a townhome. It's an apartment or a condo.
Anonymous
Post 11/19/2023 22:28     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Seems like we’re in good company here but we also had recurring water in the basement. There was a foundation leak that was really challenging to identify but finally did after several years and thousands of dollars.

The previous owner had put on a shoddy addition and many of the houses issues could be traced to it.
Anonymous
Post 11/19/2023 22:24     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
The hot water heater stopped working soon after we moved in. It wasn’t new but the inspector had told us it should last for a couple more years.
Anonymous
Post 11/19/2023 22:04     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Rot. Roof had been redone and sealed. Interior painted. 3 inspections and no one found it. Leaks for decades that had been concealed.
Anonymous
Post 11/19/2023 22:00     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Anonymous wrote:I wish there was a better method for just knowing what you’re getting. The current system encourages deception and fraud. There’s no other area, except used cars, where there’s so much dishonesty and misrepresentation around knowing they true value of what you are paying for. I hate it.


Renting is for your sort.
Anonymous
Post 11/19/2023 21:57     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Anonymous wrote:I don’t understand how you could not perceive the difference between a townhouse and a condo with a downstairs neighbor before closing unless you had never seen the property in person?


Condo is a form of ownership. Many townhouses with a downstairs unit containing a neighbor have condominium ownership. A townhouse can have fee simple ownership and also have a downstairs neighbor in an accessory dwelling unit.
Anonymous
Post 11/19/2023 21:55     Subject: What’s the worst/most expensive thing you’ve discovered was wrong after closing?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I thought I bought a townhouse but it was a condo. They only used the word condo in the legal paperwork. Of course it’s obvious to me now.


I’m a transactional real estate attorney. I used the draft condo and hoa association docs. An HOA is legally a condominium turned sideways. They are effectively indistinguishable. What do you think is different about the two?


Fee simple and condos are completely different forms of ownership. What are you talking about?


The poster does not know what she is talking about. If the poster used to draft condo and HOA association documents, those associations should carefully review their documents.