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Apartment with structural damage

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  • 24-11-2015 8:09pm
    #1
    Dellnum
    Registered Users Posts: 262 ✭✭


    Would it be foolish to buy an apartment with water ingress due to structural problems if 10k was put aside by the vendor to fix any repairs necessitated and bearing in mind that this apartment would not be the only apartment in the block that has these problems. So maintenance fees could be effected if the rest of the residents didn't have the money for the repairs.:confused:


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    #2
    Turtle_
    Closed Accounts Posts: 640 ✭✭✭Turtle_


    Have you spoken with a structural engineer who has inspected the property?


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    #3
    Dellnum
    Registered Users Posts: 262 ✭✭Dellnum


    No, but my solicitor got a report outlining the problems and I read the report. He advised me not to buy but I was just wondering if reducing the price would ever work, due to the fact that even if my apartment was fixed I would still be responsible for any other apartment that had problems, considering that this is how maintenance fees work.


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    #4
    Turtle_
    Closed Accounts Posts: 640 ✭✭✭Turtle_


    Dellnum wrote: »
    No, but my solicitor got a report outlining the problems and I read the report. He advised me not to buy but I was just wondering if reducing the price would ever work, due to the fact that even if my apartment was fixed I would still be responsible for any other apartment that had problems, considering that this is how maintenance fees work.

    A structural engineer is who you need to be talking to in conjunction with your solicitor. Really what you need is an independent expert opinion and you haven't gotten that yet.


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    #5
    Dellnum
    Registered Users Posts: 262 ✭✭Dellnum


    I figure an engineer would have to look at the whole apartment block because even if my apartment wasn't too bad and others were then I would still be in line to help to pay for them all, if you know what I mean. It would be different if this was an individual house and I was only responsible for my own house. I think I might be answering my own question here :D


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    #6
    Turtle_
    Closed Accounts Posts: 640 ✭✭✭Turtle_


    To an extent, yes you're answering your own question. However, if you're still thinking of progressing things at all you need to speak with an engineer. They'll be able to advise on what the likely fix is, approximate costs etc. Reputable engineers are involved in advising clients on this sort of thing all the time, as well as overseeing the fixes. Would cost about €350-€450 plus VAT for a decent engineer.


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    #7
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    Question is would you have a problem when selling ? You cant just fix your structural problem on your own if it affects all apts . Dont buy I say.


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    #8
    Dellnum
    Registered Users Posts: 262 ✭✭Dellnum


    I think you have hit the nail on the head handlemaster, selling might be a problem alright. Thanks for the advice too Turtle.
    I think I will forget about it.


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    #9
    Victor
    Registered Users Posts: 78,423 ✭✭✭✭Victor


    Dellnum wrote: »
    selling might be a problem alright.
    And for this reason, the bank might not give you a mortgage.


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    #10
    Dellnum
    Registered Users Posts: 262 ✭✭Dellnum


    Thanks Victor, that could be another problem. I don't think I want to waste any more time with this apt. Thank you to for all the input on this.


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    #11
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    Structural issues aside - if this has happened you can bet the OMC is in a shambles. Avoid.


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    #12
    Dellnum
    Registered Users Posts: 262 ✭✭Dellnum


    what does OMC mean, not well up on this abbreviation.


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    #13
    P. Breathnach
    Registered Users Posts: 12,089 ✭✭✭✭P. Breathnach


    Dellnum wrote: »
    what does OMC mean, not well up on this abbreviation.
    Owners' Management Company. All owners should be members; it should collect management charges from the members; they should look after the development both on day-to-day matters and major matters like maintenance and repairs.

    If a unit has (or a number of units have) significant water ingress the chances are that the OMC is, as MarkAnthony says, in a shambles.


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    #14
    Dellnum
    Registered Users Posts: 262 ✭✭Dellnum


    The Management Co. are doing checks at the moment on all the apts and so far 90 have water damage. They are having a meeting with the residents shortly to let them know how much the repairs will cost and of course this expense will be passed on to the apt owners. If any of the residents don't pay for the repairs then the maintenance fees will surely go sky high. I am sure it will go on for years. Anyway, the good news is I went sale agreed on another apt. today and will cancel my agreement to buy this faulty apartment. Things are looking good. Thanks for all the advice.


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    #15
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    Dellnum wrote: »
    The Management Co. are doing checks at the moment on all the apts and so far 90 have water damage. They are having a meeting with the residents shortly to let them know how much the repairs will cost and of course this expense will be passed on to the apt owners. If any of the residents don't pay for the repairs then the maintenance fees will surely go sky high. I am sure it will go on for years. Anyway, the good news is I went sale agreed on another apt. today and will cancel my agreement to buy this faulty apartment. Things are looking good. Thanks for all the advice.

    Just FYI. Because the buildings are owned by the management company the mc is reponsible for the repairs and the cost will be borne by the mc which will lead to an increase of fees across the board. Individual owners cannot be held liable for structural damage to mc property like this.


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    #16
    Victor
    Registered Users Posts: 78,423 ✭✭✭✭Victor


    athtrasna wrote: »
    Just FYI. Because the buildings are owned by the management company the mc is reponsible for the repairs and the cost will be borne by the mc which will lead to an increase of fees across the board. Individual owners cannot be held liable for structural damage to mc property like this.
    While the management company owns the building and must be the one to do the work, it is ultimately the owners who will have to pay.


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    #17
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    Victor wrote: »
    While the management company owns the building and must be the one to tdo the work, it is ultimately the owners who will have to pay.

    But all owners. We are currently dealing with some such issues in our development. The mc is picking up the bill, seriously deleting our sinking fund. It will be rebuilt by increasing fees in the next financial year.


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    #18
    Dellnum
    Registered Users Posts: 262 ✭✭Dellnum


    That's the problem, the cost of the repairs will be born by all the apartment owners, shared out, and in order to make sure that everyone pays up the maintenance fees will go sky high. You are obliged to pay the maintenance fees whether you like it or not and if it was just a once off payment and then the maintenance fees went down again that would be one thing but that won't happen. It would be too much of a headache for me to have all of this hanging over me, so I am steering clear. Thanks for all the comments.


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