I am in escrow for buying a condo. 1 exterior wall has cracks everywhere in vertical siding, openings. Some dry rot behind and warped wood siding. Owner says it is an hoa matter. Hoa president says that previous seller gave $7,000 to current seller to fix it and never did, kept money, so hoa will not fix it and hoa therefore will not pay for future interior damage due to leaks from this issue. Home inspector coming tomorrow to examine.
What form of letter or definite protection do I need from hoa to make sure I am protected once I buy this condo, if I do. Also, what would you say should be done to protect that wall? Thanks.
First, this is a question for an attorney, as the repair responsibility depends on which elements of the building belong to the owners of the unit and which belong to the association. Generally speaking, the exterior walls are the responsibility of the homeowners association.
However, I will say that this situation would make me very uncomfortable purchasing a unit where such a dispute exists. If there is confusion at this level, it can only get worse. Associations that have not clearly defined thier boundries of responsibilities, may not be well run and as an owner, that can also impact your property values.