While looking at lower mainland real estate listings, I notice that in the descriptions of the units often refer to refer to “building envelopes”- usually there is a report available for viewing or work is upcoming and fees are as yet undetermined.
I have this vague memory of “leaky condos” being a widespread problem in the '90s in BC. Is that what this is referring to? Is “building envelope issue” a code word for “Don’t invest a ton of your hard earned cash in this potential money pit and then sue us?”
It certainly refers to the leaky condo thing. If you’re thinking of buying a report is definitely essential reading. If one doesn’t exist then dig deeper into terms and warranty.
That’s what I suspected. I thought that a few of the units were much cheaper than I’d expect Vancouver real estate to be, and figured something must be up.
Any ideas on who might be a neutral third party expert to consult if I suspect that a potential condo might need huge refurbishing? An engineer? a specialized company?