HOA Responsibility?

[gman]

Hi Everyone --

My wife and I just bought a condo and we are having remodeling done.
In the course of installing new tile in the bathroom, it was found
that there was extensive water damage and dry rot underneath the tile
- extending the framework outside of the building.

I contacted the HOA and they said it was a well-known problem in all
of the units and they are not liable because when the homes were built
25 years ago they were built to code. The seller didn't inform us of
this problem and maybe didn't realize it existed.

But isn't the HOA or management company obligated to let any new
buyers to their community know what they are getting into? Shouldn't
this be standard practice and disclosure? We haven't even moved in
and we have a $3500 bill for damages that have been festering for 25
years!

What's more, I feel the HOA should have levied an assessment years ago
when they first discovered the problem to have it repaired immediately
in all the homes.

Please comment if you have any experience or insight to this kind of
problem.

Thank you,

GMan