My wife and I recently purchased a condo that is relatively new (2018) and moved in back in June. Between then and now, construction issues have been found in other condos and to total cost to repair is somewhere around $40,000. Luckily these issues do not affect our home.
There was a litigation in the works to sue the builders, but I imagine it fell through as 3 different people today who were affected posted in the Facebook HOA group that they would be listing their homes for sale due to the progress of the litigation.
When it comes to appraisel, it’s pretty hard to base the price of a condo off anything else besides other comprable condo’s in the area. Assuming these end up selling for less as the buyers know they have repairs to do, how will this affect the value of our condo that does NOT have the same issue?