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To
avoid condo horrors, use our buyer's checklist
Condo conversions can be complex. Read up on them before you buy.
Article Courtesy of the Jacksonville Times-Union
By ALISON TRINIDAD
,
The Times-Union
On July 16, the
Times-Union published a story about The Venetian, a
37-year-old apartment complex turned condominium whose owners have
had to deal with extensive plumbing and roofing problems over the
last year. The owners are negotiating with the property's developer,
Jacksonville-based Montecito Property Co., to remedy the defects,
but it took months of complaints and a threat of a lawsuit before a
settlement was put on the table. As of Monday, a final agreement had
yet to be reached.
Since the story was published, numerous
readers in similar situations contacted the Times-Union seeking help
and expressing frustration as they recounted the difficulties they
have had trying to get the problems in their homes fixed.
Problems mentioned included building code
violations, unfinished construction and water intrusion. Many of
them said there was no other recourse but to take their case to
court; homeowners from at least two condominium conversion
communities in Duval County other than The Venetian have already
filed suit.
The Times-Union has compiled a list of tips
from city and state real estate sources and their contact
information for homebuyers, specifically those looking to purchase a
condo conversion. There are a few important steps that every
consumer can take before and after a purchase agreement is signed.
Q: What are condo
conversions?
Buildings that originally were constructed for uses other than
residential condominiums. Some condo converters do little more than
a cosmetic touch-up to the buildings, typically apartments, before
selling the units to consumers. Others completely renovate the
complex and replace roofs, plumbing or electrical systems.
Q: What should I look
for when buying a condo conversion unit?
Be proactive. Ask questions. Make sure you know what you are buying
and what the developer is promising to do - whether it's a rehab of
the roofing, electrical, plumbing systems or just a cosmetic
touch-up. And get everything in writing: Verbal agreements don't
count.
Q: Where can I get more
information about the developer?
The Internet is a good source of information. Complaints filed
against the developer or the property can be found on the Department
of Business and Professional Regulation Web site at www.myfloridalicense.com
or by calling (850) 487-1395. The city of Jacksonville's building
inspection Web site also lists violations and complaints. Go to Jacksonville.com,
keyword: inspect. For more information about city building
permits, call (904) 630-1100.
Q: What should I do
once I sign a contract to buy a condo conversion unit?
Review your purchase agreement and condo documents. Florida law
gives buyers of condo conversions a 15-day rescission period after
signing a contract to review associated documents, which includes a
property inspection report. That report, which is required by the
state, will describe existing building conditions and estimate the
remaining life of certain structural components like roofing,
plumbing and electrical systems. Condo conversions are not new
products, and you should treat your purchase like any resale
purchase. Review warranty information, if any.
You might want to have your own professional
engineer or home inspector review the documents. Before signing a
contract, ask the developer if it is possible to bring a private
home inspector to the final walk-through, and ask whether the
inspector's findings will be considered upon closing. It will be up
to the seller what is allowed, but get those issues cleared up in
writing before signing. A buyer can get a full refund if he or she
changes her mind within the 15 days. After 15 days, the contract
becomes binding.
Q: What can I do before
closing the sale?
Prior to closing, buyers have a final opportunity to walk through
the property and document things the developer will need to complete
in a reasonable amount of time. Often, those things will not be
completed before closing. That list of unfinished items can be
brought to the closing table, added to the contract and signed by
both parties. Try to get a specific deadline for which those issues
will be taken care of - otherwise, it's your word against theirs if
the work is not done.
Q: What happens when
the condominium is transferred to the homeowners association?
Associations should conduct an independent inspection of the
property upon taking control of the condominium from the developer.
This inspection report can serve as a baseline comparison for
problems that may occur in the future. Although it is not required,
for older properties, it might be worth having a plumber take a
video and photos of the plumbing system beneath the property.
Q: Where can I file a
complaint?
First, contact your developer or homeowners association, depending
on who is in charge of the day-to-day operation of the condominium.
Talk to your neighbors. If you're having problems communicating with
your property manager, you might not be the only one. And, if it
comes to litigation, it is usually less costly and more convincing
to file one lawsuit as opposed to multiple suits.
And get everything in writing. Make requests
in writing, and ask to have responses or promises in writing. If you
can't, take detailed notes of the conversation.
Complaints can be filed with the city, the
State Attorney's Office or with the state Department of Business and
Professional Regulation.
In Jacksonville, consumers can visit Ecare.coj.net
or call 630-CITY (630-2489).
The consumer complaints department of the
State Attorney's Office often handles issues with home construction.
The office works to mediate the problem.
For more information, visit Jacksonville.com,
keyword: complaint, or call (904) 630-2075.
The Department of Business and Professional
Regulation takes complaints electronically at www.myflorida.com/dbpr
(click on "File a Complaint") or by phone at (850)
487-1395.
Q: What if I need a lawyer?
If litigation seems like the only option, you can call the
Jacksonville Bar Association's Lawyer Referral Service at (904)
399-5780. The service typically costs $50 for a 30-minute
consultation.
Q: How do I lobby
for changes in condo law?
In 2004, the Legislature created the Advisory Council on
Condominiums to take public input and recommend changes in
condominium law. The council will meet from 1 to 6 p.m. Thursday in
Jacksonville Beach City Council Chambers, 11 Third St. N.,
Jacksonville Beach. The public is welcome to attend.
For details, call Carol Windham of the
Department of Business and Professional Regulation at (850) 488-1631
or visit Jacksonville.com,
keywords: condo advisory.
The public can also e-mail comments to
Condominium. [email protected]
or send a letter to:
Advisory Council on Condominiums
Division of Florida Land Sales, Condominiums and Mobile Homes
1940 N. Monroe St.
Tallahassee , FL 32399-1032 |