I do not think it is fair of you to make remarks like above unless you are giving informative information. Any potential buyer reads that and they get scared off.
In truth, there is not a 7 million dollar SA. There is a 8 million dollar lawsuit against the developer (sandalwood), with numerous others named on the lawsuit.
A special assessment was just paid to cover the work on that corner of the building/engineers reports. This is to gather more evidence for the eventual case. The board is VERY pro active and on top of things. Documentation of problems was made before the home owners warranty was up however nothing was done about it. Based on discussions with numerous owners, no one is concerned about losing the law suit. If/When they win, they have discussed a condo fee vacation as the money they paid into a SA already is not able to be refunded.
I do not know as much about the other building but do believe they are starting to face similar issues. There board is not as pro active so while the building looks nice now with no scaffolding up, it could be a wreck in a short period of time if they do not get on top of things.
**Take the above remarks as my opinion from discussions with owners/reading over numerous documents and a engineers report and not as fact. I will not be held responsible for my comments above.
|