Friday, June 08, 2007

Condo Hell Update #2

Last night DH meet with other "trustees" regarding issues for our condo association. First up, since we flooded the downstairs unit and it was found that the master condo insurance would pay for it, we were off the hook for the deductible. So that was a nice starting bonus.

However that lead to the first point of contention. The owner whose house we flooded wanted to pocket the insurance settlement and pay for the repairs. But DH, I, and "the couple" are against this. Thus it was negotiated that he could submit reciepts for repairs or directly bill the association. Well see how that works out.

Second major point of contention is our retaining wall. When we purchased the seller/developer lied to us and said the money was set aside prior to our closing. Our attorney dropped the ball by not checking, however it was written into our purchase and sale agreement. Then she tried to not pay up and also tried to pay a lower amount than the agreed upon 40% of $20k.

Now the "brother owners" bought their condo with cash, thus they DID not do any due diligence, and failed to get a 6d certificate. This would have certified that no outstanding debts were due to the association, but the developer sold it cash so she didn't have to get a 6d certificate. She had asked for one, but we had refused to sign it because she had not paid our 40% and the 20% for the condo she was selling. However after we negotiated more through our lawyer whom we paid, she forked over 60% of her $6k estimate. This we felt was unacceptable because there were two other quotes for $18k and $20k to repair the retaining wall.

However, because we got some money from her through OUR lawyer we called the money ours. However she attempted to say it was for the other unit as well. That is where we are stuck right now. First she won't put up money for the higher quote. Which if it should come in less, we will return the money to her. Second, the unit she sold in cash, should pay the 20% of higher amount because they did not fully investigate the debts associated with theunit before purchasing. When we bought we were shown only the $20k quote and assured it was set aside.

Thus right now we're fighting over whose money it is. We're not backing it down because we paid a lawyer to obtain the money. So why should "the brother owners" get a portion of it?

What is the next step? I don't know, but this is why living in a condo sucks. I hate it, I hate all this negotiating and trying to make decisions as a team. I'd prefer just living alone and being solely responsible for our actions/decisions.

One day I shall own a single family home and be able to do what I want, when I want, and make all the noise I want. I hate condo living...


A friendly citrus. said...

There are plenty of single family homes out here in Seattle! I can't afford any of them, but I'm sure you can. Anyway, keep fighting for your cash!

Living Almost Large said...

That's why Seattle is in the lead for cities we'd live in. Actually DH wants to live in Vancouver but it depends on our job situation. SD is a close second.

Anonymous said...

Single family living is OK till the bills and repairs start rolling and and you have to do/pay them yourself. Sounds good on paper till you have to do the work. We live on 4 acres and we're TIRED. It's non ending. We are thinking about switching to a condo and letting others do the work. If we had to hire someone to do our work now we'd be in the poor box. Each style of living has it's pros and cons.
You'll get through it.
You'll get your free standing single home.

Living Almost Large said...

The bills roll in condo association boomies. Our last condo had each one bedroom unit paying $12k for a special assessment. Also our condo fees are $200/month now, reduced from $275/month last year. And in SD we were paying $200/month going up to $250/month. The bills are much higher in a condo boomie, because you have to pay the association fees, plus if you are like us and flood your downstairs neighbors, well if the people who flood you don't have insurance (many, many condo owners don't), then you have to pay out of your insurace or pocket. Ugh, I hate condo living.

So here you are living beneath irresponsible people who don't have insurance and it burns down? Or it floods? When you live in a solo home, only you can blame yourself for a fire started by incense. Or flooding because of a loose hose. You cannot curse your neighbor who forgot the stove. Or let the toilet run so much it rots the floor and falls through (happened in SD community).

At least with single family home living you are not dealing with other people's problems, or irresponsibilities. You don't have to compromise decision making. Cons for single families might be the costs, but seriously in a condo it more than makes up for it with the HOA fees. Also we have to pay for 40% of any expenses on our Victorian. Hmm, and we don't even own the exterior of the house. Plus if we can't decide on how to fix say this retaining wall, it won't get done!

So we'll all have trouble selling. That's why sure condo living might be cheaper, but probably not. Because as things drag on, you get a more damaged house. ugh, and then it costs more than if you had just agreed to repair the problem in the first plcae.

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condo in Philippines said...

That was a bad experience. I think you better choose a good condo with good rules and regulation. Thanks for sharing.