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Updated almost 7 years ago,

User Stats

16
Posts
11
Votes
Nils Stewart
  • Lynnwood, WA
11
Votes |
16
Posts

Condo situation and I want out but no room to be upside down on p

Nils Stewart
  • Lynnwood, WA
Posted

Three years ago I got this bright ideas to remove the carpet in my condo.  I found a hole.  Thought it was the Windows sweating as they were aluminum and seals broken. so bought new Windows, which almost didn't get installed because of the rot from water intrusion the installers found.  Three years later, I was finishing the remodel and a new leak started.  I know the issue in my unit is also happening in my building but two unit stacks away from mine.  

I am on the hoa board and we have not had guidance on what we need to do from the property manager, even though he knew about the leaks a few doors down, but he has not addressed us about my new leak or what we should do.  And it's been three weeks since the last bad rainstorm when I had a dipping ceiling.  

I owe 180. the last place sold for 230 and one is listed for 250.  I know there is value in the condo, but if I put the condo on the market, how much of a discount will I have to give? Or can I even sell the unit?  No special assessment yet, but we may have to side the whole building and repair structural damage, probably like what I found when I did my windows.     We don't have reserves to cover but a small portion of that cost.  

My remodel is also much more basic, but I have all new Windows. Lol. New appliances also.  Maybe I could put one of those rain chain things and say it's a decrotkve fountaine...

is it possible to roll the price of a special assessment into closing costs if I can't afford to pay it before I put the condo on the market? 

Any thoughts?