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Updated over 6 years ago,

User Stats

37
Posts
3
Votes
Julia Amelyan
  • Real Estate Agent
  • Thiensville, WI
3
Votes |
37
Posts

Condo Insurance - Associate Fees

Julia Amelyan
  • Real Estate Agent
  • Thiensville, WI
Posted

Hi, does anyone know of any condo insurance that can be purchased for this situation:

We are purchasing a condo for a low price, however the building's association is suing the builder for using bad materials which have been estimated to cost around $2million in repairs. The association might have to divide the repair fee between the unit owners if they cannot find the fund from the builder from the lawsuit. Is there any insurance that the condo owner could purchase to protect them from these rising HOA association fees in the future? The condo is being sold As Is, and the disclosure of the damage/cost to repair has been given to the buyer as well.

Any help would be appreciated.

thanks!