It’s important before buying an apartment to investigate how well the complex is run and how much of a contingency fund is in place to pay for repairs to the roof or other areas requiring maintenance.
It is doubly important these days to make these enquiries, or more usually for your solicitor to make them on your behalf, as many apartment complexes have in recent years been bedevilled by shortcomings in fire safety provisions which cost a substantial amount to put right.
The problem arose due to builders cutting corners and simply not complying with fire safety protocols at the time these complexes were being constructed and this despite a Fire Safety Certificate being issued.
The local authority signed off on the Fire Certificate application / drawings, but the build was not carried out in accordance with the drawings / specification filed with the authority. In many cases the Guarantees may have expired, or the developer become insolvent, and all the costs of repair are left with the individual owners of the apartments.
Your solicitor will advise you to engage an architect or surveyor to inspect the apartment and complex but as all work is covered over at this stage, it is usually impossible to find any fire safety problems.
So, any purchaser of an older apartment these days should be aware of these fire issues and will be advised by his solicitor:
An inadequate reserve fund or a non-committal response to pre-contract queries is a red flag and any purchaser should be prepared to walk away in such a case and will be so advised by his solicitor.
Steen O'Reilly LLP Solicitors
Founded in 1911, we are a well-established legal firm based in Navan, Co. Meath with a valued reputation in all areas of law.
Steen O'Reilly LLP Solicitors
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Navan, Co. Meath
Tel: 046 9076300
Fax: 046 9029274
Email: solicitors@steenoreilly.ie
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