Condo Corp is finalizing a $2 million expense that wasn’t disclosed when I purchased the house last year
New Ontario home owner here, we bought our townhouse, that is a part of a condo corporation, last spring. A few months ago we got documents from the condo corp that they had chosen a construction company to do a $2 million watermain repair this summer. The next few notices were about securing a loan and increasing our fees by $300/month for 25 years to pay for the repair. I figured there was nothing I could do and got unlucky with my purchase.
I have now heard from a neighbour that this repair has been in the works for up to 6 years and has been discussed at past condo corp meetings. When we purchased I looked through the condo docs and reserve fund without finding any mention of plans for this work (we decided not to bid on a similar condo that had planned driveway/road repairs coming). Would this be the condo corp's fault for not disclosing? Is this something worth discussing with the lawyer who helped us with the purchase? Thank you for reading and giving advice if possible!
submitted by /u/Ok_Firefighter_7898
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