B
blue22
Guest
What is the name of your state? Ohio
I bought a condo earlier this year and it has recently come up that we will be assessed somewhere between $1000-$2500 for some needed structural work on another building in my association. This came as a surprise to me as I had no knowledge of it when I bought the place.
On the Residential Property Disclosure Form, under "Structural Components" Yes was checked off with this explanation: "Structural engineering study done in buildings 1633 and 1655 found to be structurally sound." I read this and figured there were no worries. As it turned out, at the annual meeting (2 months before this form was signed by the seller), a contractor explained there was a significant problem that needed to be addressed with regards to the foundation.
My question: Did the seller withhold information from me and/or lie (by stating the building was structurally sound)? I mainly want to know what the residential property disclosure form does. Is it legally binding? If I would have known there was a major issue they were going to deal with I might not have bought the place, or I would've had a few thousand knocked off the price.
What course of action should I take?
I bought a condo earlier this year and it has recently come up that we will be assessed somewhere between $1000-$2500 for some needed structural work on another building in my association. This came as a surprise to me as I had no knowledge of it when I bought the place.
On the Residential Property Disclosure Form, under "Structural Components" Yes was checked off with this explanation: "Structural engineering study done in buildings 1633 and 1655 found to be structurally sound." I read this and figured there were no worries. As it turned out, at the annual meeting (2 months before this form was signed by the seller), a contractor explained there was a significant problem that needed to be addressed with regards to the foundation.
My question: Did the seller withhold information from me and/or lie (by stating the building was structurally sound)? I mainly want to know what the residential property disclosure form does. Is it legally binding? If I would have known there was a major issue they were going to deal with I might not have bought the place, or I would've had a few thousand knocked off the price.
What course of action should I take?