My real estate chicka called me last week to let me know that the apartment I sold just 13 months ago has been been assessed to the tune of FIVE Million dollars based on a building envelope inspection. This works out to 40-50 thousand bucks per unit.
To say that we got out just at the right time is a massive understatement. We got out at the PERFECT time. I feel so lucky to have avoided this as it would have taken me years to recover from such a demand. I feel bad for the people we sold it to, but what can I say except "buyer beware." Obviously they did their own due diligence and received a good inspection report, but I can't help to think that this problem existed when we were living there and between the time we sold and just last week they finally finished their assessement of what it will take to remedy the situation.
Misreading my hand last night and losing a $150 pot doesn't seem too bad now does it. That is the first time I have ever misread my hand and the funny part is two hours earlier I won a big pot (only $60, but still nice) off a guy who misread his.
Life is fucked up sometimes.
I am still choked that I made such a huge error as I gifted my entire stack to the only guy that was near me as far as chip count goes. Always check your hand, and then check it again before you decide to push! Fuck face.
10.2.09
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3 comments:
The condo my grandparents had in BC (now inherited by my dad and his sisters) had repairs assessed at 14 million. Works out to $70k/unit. Absolutely nuts that this was allowed to happen.
Buy houses on freehold land. COndos are scams!!!!!!!!!
Dang - Sounds like you lucked out big-time.
How does the whole assessment process work?
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