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!
I have seen 400k fines reduced down to 10k. If the city attorneys are willing to look at the bigger picture, and you have a renovation plan then they will most likely cut the fines.
@Frank Procopio@Greg Dickerson I figured as much, just wanted to make sure I wasn't hoping for something that wasn't in the realm of possibility. I appreciate the insight!