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Real Estate Law

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niclon3

Guest
What is the name of your state?
Washington


In November 2001, I bought a condo in Seattle and I moved in December. At the following board meeting in January 2002, I discovered that an expensive remodeling to the building was about to start and that I had to pay a large sum of money for in a short time. At the board meeting they said that they had been planning these improvements for several months while neither my real estate agent nor the previous owner informed me of these costs. Had I known of this, I may not have purchased the condo.
Who was supposed to pay for the remodeling: the previous owner or me?
If the previous owner was supposed to pay for it, is there anything I can do to get the money I have already paid back?
Was the real estate agent and/or the seller required by law to reveal that a major remodeling was to ensue and that I would have to contribute more
money?
 


HomeGuru

Senior Member
niclon3 said:
What is the name of your state?
Washington


In November 2001, I bought a condo in Seattle and I moved in December. At the following board meeting in January 2002, I discovered that an expensive remodeling to the building was about to start and that I had to pay a large sum of money for in a short time. At the board meeting they said that they had been planning these improvements for several months while neither my real estate agent nor the previous owner informed me of these costs. Had I known of this, I may not have purchased the condo.
Who was supposed to pay for the remodeling: the previous owner or me?

**A: read your contract.
***********


If the previous owner was supposed to pay for it, is there anything I can do to get the money I have already paid back?

**A: sue the Seller for mispresentation and non-disclosure.
**********
Was the real estate agent and/or the seller required by law to reveal that a major remodeling was to ensue and that I would have to contribute more
money?

**A: the Seller and maybe the real estate agent.
Did younot ask for and review all the condo docs including copies of minutes the last 3-5 board and HOA meetings. Did the lender require an RR-105C?
Did you even ask the HOA if there was a pending or future special assessment? Did you review the reserve study? It appears that you failed to do your due diligence.
 

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