Make sure you do your due diligence when it comes to buying a Boston condo in a building that has/ might need an assessment for capital improvements.
If you’re considering purchasing a condo in a building that might need retrofit work, request the last condo association meeting notes from the seller, this will indicate if an assessment is in the works and/or the retrofit status. There should be information there confirming whether the building is exempt from doing the work, or will be required to do so in the near future. (Owners may also have already completed the work.)
If the work still has to be done and the seller is not planning to pay for it, you need to factor that cost into your purchase and budget.
In addition, make sure that the contractor performing the work pulled the required Boston building permits. I am aware of one building in the West End where the contractor didn’t apply for the proper permits and the city shut the project down. Not taking any action to comply could ultimately result in the city fining building owners for code violations, placing a lien on the property, and forcing owners to deal with legal expenses if the city refers the case to the city attorney.
Contact me to set up an appointment to start your Boston condo selling/ buying process.
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Updated: January 2018
