Is a condominium in a two-family house without reserves and a private road reasonable?

Hello,

since we have never built or purchased property ourselves, we would like your opinion on an offer as we are a little skeptical.

It is about an approximately 110 sqm condominium built in 2007 in a total of 2-party house. The house is located in a new development area. The new development area can be reached via a private road. However, this private road is owned by all residents (25 parties), and when buying the apartment, you also purchase this share of the road. This is the first point that makes us skeptical or that we do not know like this.

The second point is that the house has not built up any reserves. The sellers' statement was that since the house is still "almost" new, this was not necessary. The monthly house fee of 200 € for both parties was paid monthly but was used to cover the ancillary costs, and at the end of the year, they cashed out the surplus in the funds.

The house is apparently really in a very well-maintained condition, but these two points confuse us a little, especially when talking about a purchase price of 350,000 euros.

I cannot say anything about the private road.

Regarding your second point: I do not consider the year of construction 2007 to be "almost new," but of course the seller sees it differently. I would find it good, if you have not yet received them, to review the minutes of the owners' meetings. Usually, one looks at them retrospectively for at least 5 years. However, since this house is declared as "almost new," I think you can perhaps request them since 2007. Personally, I would immediately offer to cover the copying costs (if they are not PDFs) or offer to make the copies myself. Ultimately, it probably depends on how many interested parties the seller still has.

Here I have a better formulated, professionally sourced piece of information:
"Before concluding the contract, have the seller provide you with the budget plan as well as all minutes of the owners' meetings. You can view these documents with the seller's authorization at the administrator's office to get a better understanding of the owners' association.
Note: If the seller of the apartment informs you upon your request to inspect the minutes that they do not exist, or if you find that the collection of minutes is incomplete during the inspection, you should refrain from purchasing the apartment."

The teething problems are over. The big challenges have not yet come.

Did I understand correctly, the [WEG] consists of the 2 owners, not all those to whom the private road belongs?

The following is just my personal opinion and by no means an indisputable fact.

2 owners: If one of them later cannot or does not want to manage a special assessment, there will be serious conflict. This can lead to forced administration or even the registration of a forced mortgage. The disputes, also concerning the matter but mostly not only that, of course arise beforehand but are not any more pleasant. Read the declaration of division carefully beforehand, try to review all protocols, specifically ask about disputes and legal conflicts, and keep an eye on the neighbors. Watch how the remaining owner behaves. Did they grab pieces of the common property since, did they often make changes alone where there should have been prior consultation, are they sensitive to noise or can never tolerate barbecues, want to dictate the cleaning agents used in the stairwell, or have an above-average fear of burglars, etc.

Private road: I find it expensive and annoying.

If it is reasonably priced and you say to yourselves, that’s it, this would be our property, then do it. I occasionally deal with the downside and am predisposed. There are also nice small [WEGs] where the owners become long-time friends and get along in peace and trust.

Best regards
Gabriele

Incomplete minutes, missing resolutions collections, hardly comprehensible accounts, missing reserves, petty cash in the left pocket, this is not so unusual with facilities that manage themselves

... especially when talking about a purchase price of 350,000 euros.

I don’t know which region you live in, but is it entirely impossible to get a tiny little house for 350,000 euros if you have a bit more patience? Maybe it’s a stupid question, you have probably already thought about it. Please be aware that you are not really "free" in a condominium and cannot simply quit and move out if you have difficult neighbors. Examples from my acquaintances: "Downstairs neighbors" are smokers who smoke on the balcony almost all day and in the evening, so that the apartment owner in the apartment above, unfortunately a non-smoker, can hardly ever air out because the smoke drifts into her apartment. Other acquaintances: Musicians have moved into the adjacent building who have to practice daily. Last example: A mentally ill woman has moved into my aunt’s house who screams very frequently every night and bangs on the walls. In this case, even a lawyer can do nothing, since this woman is neither a danger to herself nor to others. Surely there are many more positive examples than negative ones, but you should think about that.

I would never enter into a two-person condominium ownership with someone like that, I wouldn't have to think twice.