| Comment | I guess that depends whether or not there are issues that really do need to be addressed. Say there is a major issue with the roof, and all the owners decide not to do anything. You start the process of selling and it comes out that this issue is known about... its not going to end well for you. Buyers pulling out, reduced offers etc.
In our case the building had major defects, including the whole roof structure. The worst part was that ours was only built in 2000 (ironically in the space of a tenement that had fallen down due to disrepair). It was all caused defective construction and there was nothing we could do other than pay to fix it. Had all the owners refused the work, our properties would be basically worthless by now as even a cursory inspection would have revealed that the fabric of the building was deteriorating.
I know its a terrible prospect to have to spend so much money, but if the work really needs done then it needs done. Not doing it could leave your property unsaleable or worth significantly less than it would otherwise be.
What exactly prompted this other owner to request that this inspection be carried out in the first place? Are there visible signs of issues? |
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