Code Violation Apartment Purchase

[Tyler Drapeau]

My partner and I are looking at purchasing an apartment with extensive code violations. The violations include pulling construction or electrical permits and the fines are seven figures. Has anyone ever negotiated down the fines associated with an apartment building they were going to purchase ? I’m calling the code office on Monday to start the conversation and wanted to get some input. Also we will of course use this in negotiations with the current owner.

Any thoughts or comments would be greatly appreciated!

[Greg Dickerson]

@Tyler Drapeau You can negotiate these fines sometimes. It all depends on the city. Delinquent taxes can also be negotiable sometimes  as well.