Any Electricians out there??

Mold is one thing i wouldn't mess with. It usually points to bigger underlying issues that are usually $$ to fix. unless you LOVE this place, have an honest internal conversation with yourself and ask yourself why exactly aren't you walking away. Is it cuz its a great house/location/price or you're stuck on getting a house now!!

Ended up walking away from the deal. There were other issues besides what I stated and showed a lot of short cuts being taken in their renovations...meaning that potentially there was a LOT that we couldn't see.

Also lawyer stated his recommendation was not to buy based on the condo status certificate review.

Thanks all for the quick responses.

mimico_polak said:

Ended up walking away from the deal. There were other issues besides what I stated and showed a lot of short cuts being taken in their renovations...meaning that potentially there was a LOT that we couldn't see.

Also lawyer stated his recommendation was not to buy based on the condo status certificate review.

Thanks all for the quick responses.

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I work on a lot of condos and if you're buying one buy the best one you can afford. Ones run by cheapskate boards and management companies will have you living in a dump sooner or later.

nobbie48 said:

I work on a lot of condos and if you're buying one buy the best one you can afford. Ones run by cheapskate boards and management companies will have you living in a dump sooner or later.

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Problem is how do you know which ones are the good ones vs the bad ones.

mimico_polak said:

Problem is how do you know which ones are the good ones vs the bad ones.

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your lawyer is your friend, you can get condo annual reports disclosed and see what's what. That doesn't mean you cant get caught short even in a well financed condo. Stuff like parking lots leaking into the underground garage and winter salt eating rebar cost hundreds of thousands (guess how I know)

I've met a few people that have co-op units.....now there's a bad deal. All of them trying to get out but couldn't sell for decent money.

crankcall said:

your lawyer is your friend, you can get condo annual reports disclosed and see what's what. That doesn't mean you cant get caught short even in a well financed condo. Stuff like parking lots leaking into the underground garage and winter salt eating rebar cost millions (guess how I know)

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Fixed it for you.

Watch out for investor buildings, ones that the owners don't live there. The renters don't have a say in the upkeep and the owners don't have to live in the crap.
Google the corp number and address. Sometimes an issue pops up.
Talk to the property manager and ask about upcoming issues. Google the property manager. The cops are looking for one in particular. Multi million dollar scam.
Definitely keep your lawyer in the loop. A good one can find things in minutes that us mortals would miss.
Wander by on a Saturday night and listen for gunfire, beer bottles being thrown off balconies, parking chaos.
Look at the underbelly. Is the parking spot you get creepy? Does the electrical room look like a Frankenstein movie set?
A lot of places don't maintain the stuff that is out of sight. When it blows up it costs big time.
Buildings with underground parking, elevators, spas, pools, gyms will generally have higher fees because these common areas have to be maintained whether you personally use them or not.
What's in the area that you like / don't like?
Is bike parking important to you? See one of the many threads.