I am looking to buy an apartment in a co-op which is currently being renovated - new kitchen, bathroom and floors - by the building's super. I have insisted that all the work be done to the appropriate code - which the seller's broker keeps insisting will happen. However, my feeling is that the building's super is doing this renovation on the side - without having approvals in place. If I do go... [more]
I am looking to buy an apartment in a co-op which is currently being renovated - new kitchen, bathroom and floors - by the building's super.
I have insisted that all the work be done to the appropriate code - which the seller's broker keeps insisting will happen.
However, my feeling is that the building's super is doing this renovation on the side - without having approvals in place.
If I do go ahead and buy the place, and three months down the road, some pipe bursts and floods the apartment underneath is that my responsibility or would the building be responsible? Secondly, I would be surprised that the seller obtained the necessary city permits to do the work. What would be the consequence of this i.e. does the responsibility end with the seller or is it up to the new buyer to have the place inspected?
In this particular case, the seller's broker is also the managing agent for the building.
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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006
Those are questions you should put to your real estate attorney who will represent you in the purchase--do it by fax or email.
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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006
Thanks. I already have. However, I wanted to hear from others as well.
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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006
run away
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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006
Violations do not just disappear when a new owner steps in. If they are doing faulty work and something goes wrong down the road, you'll be on the hook. At the very least, you should have an inspector in to check on all the work and you should request copies of all permits. If you move in and find that the work is of poor quality and/or problems arise, you will at least have to deal with a giant headache - or even be left having to pay to fix everything.
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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006
We just bought a studio that was listed as "GEM", "Newly Remodeled".
The electrical wiring was a joke, a fire waiting to happen or worse
killing someone. We had to pay to have it rewired ourselves, very expensive.
If there are not signed off permits and inspections, please walk away.
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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006
Original poster here.
Got it.
Thanks.
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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006
Before you waste your time can you not check with the city to be sure there are permits pulled because then you'd also know that the city inspector was involved at each step. However this situation looks very incestuous so be very careful.
Those are questions you should put to your real estate attorney who will represent you in the purchase--do it by fax or email.
Thanks. I already have. However, I wanted to hear from others as well.
run away
Violations do not just disappear when a new owner steps in. If they are doing faulty work and something goes wrong down the road, you'll be on the hook. At the very least, you should have an inspector in to check on all the work and you should request copies of all permits. If you move in and find that the work is of poor quality and/or problems arise, you will at least have to deal with a giant headache - or even be left having to pay to fix everything.
We just bought a studio that was listed as "GEM", "Newly Remodeled".
The electrical wiring was a joke, a fire waiting to happen or worse
killing someone. We had to pay to have it rewired ourselves, very expensive.
If there are not signed off permits and inspections, please walk away.
Original poster here.
Got it.
Thanks.
Before you waste your time can you not check with the city to be sure there are permits pulled because then you'd also know that the city inspector was involved at each step. However this situation looks very incestuous so be very careful.