raindrops keep falling on my head

You could live with a raindrop (or two) on your sleek up-do, as you dash from Blo to Plan B. But raindrops suddenly falling on your head from inside your leaky condo... or worse, trapped inside the walls? Worse than the worst of bad hair days.

7 tips to avoid leaky condo surprises

1. Scrutinize strata minutes and budgets. The previous two years’, at least. Extra cautious?  Ask for documentation going back to the beginning of the strata.  Flags include special assessments, mention of moisture issues, engineer surveys highlighting problems, suspiciously high legal fees, and major construction and repair bills.
2. Review the Property Disclosure Statement. This A to Z (and beyond) checklist is completed by the seller and discloses known uh-ohs, such as special assessments, pending litigation, structural problems and leaks.
3. Inspect. Thoroughly. Get an independent building inspector to review the building’s roof, boiler room, parkade, common areas, as well as your unit.  Count on the inspection to last about three hours. And insist on a detailed written report.
4. Don’t (necessarily) fear the engineer.   Many proactive strata councils hire them to conduct a building envelope survey, even when there are no problems.  That being said, luckycat girls always review engineers’ reports. Even better, we hire a qualified consulting engineer (with building envelope training and experience) to independently review the  surveys and reports with us.
5. Check insurance. Homes built by licensed residential builders with building permits applied on or after July 1, 1999 are covered by the Homeowner Protection Act and must have 2-5-10 year home warranty insurance (at least).  
6. Double check insurance when buying renovated. Since September 30, 2000, contractors who renovate building envelopes must be licensed by the Homeowner Protection Office and provide third-party warranty insurance to build most types of housing.
7. Get everything in writing. He said. She said. Well luckycat girls say that only assurances in writing are enough. Get copies of any home warranty insurance policies, reports, surveys, claims, opinions and disclosure statements.

Check out the Homeowner Protection Office website and consult an independent building inspector before buying any home.  And visit luckycatrealestate.com for more on real estate in Greater Vancouver.