What buyers need to know about condo inspection
Purchasing a condo is not something you should rush. One of the most critical parts of the process is ensuring that the apartment is in good condition! You do not want to make a purchase only to have to fix a whole host of things before you can live your life in your new home properly. To this end, we will be explaining what buyers need to know about condo inspection!
What does the condo inspection cover?
There are generally two types of condo inspections. One is more common, and it is the one where only the unit you are interested in is inspected. There is a good reason why most people opt for this option. It is much cheaper, and since you will only be living in one unit, it is perfectly acceptable. The condition of the rest of the building has very little to do with you unless you have a top-floor condo. In this case, you need to know about the condition of the roof. This is where the second type of inspection comes in. It also includes the interior area of the condo you are interested in, but it also consists of outdoor home inspection elements that might be important for you.
Who typically foots the bill?
Unfortunately, you will likely be the one who foots this particular bill. When it comes to house inspections, the seller will often pay the bill since it benefits them to know about the problems. However, as we have mentioned, a condo inspection usually only covers the interior of a single unit. As such, the seller is rarely motivated to pay the bill on the part of the buyer. However, you should not be quick to dismiss the importance of an inspection just because of that! Many problems in condos are not easily detectable, but an experienced inspector would be able to notice the warning signs of whatever issue is present. So, before you schedule your moving day with the experts from cleancutmoving.com, make sure to put some money aside for an inspection!
Should you attend the inspection?
Definitely! Reading reports is all good and well. However, it would be better for you to learn about the situation first hand. You will immediately know everything that is wrong with the condo and make a better-informed decision about whether you want to go through with the purchase. After all, some of the problems do not necessarily take a lot of money to fix. So, you can still treat the condo as a minor fixer-upper and ask the seller to lower the price on account of the issues. You can also take the chance to learn about the common problems found during a home inspection from your inspector. You will not be able to do it yourself, but you will be better informed about the importance of discovered issues.
Should I insist on the inspection before moving if a building is new?
The answer is, without a doubt, yes. The only way to settle in without any stress after the relocation, aside from hiring trustworthy local movers, is to do a home inspection. Do not be misled into believing that just because a building is new, it will be without faults. You are more likely to come across problems that fail a home inspection in a brand-new condo building than one that has been in use for a while. The reason for this is simple - there has been no chance for the condo to go through any tests of quality checks. Over time, any existent issues will surely show themselves. But since the construction is still fresh, the only way to know whether the contractors had made mistakes or cut corners is to rely on a professional.
What are the most important things to look out for?
What buyers need to know about condo inspection is not limited to just facts about it. It is often helpful to know a bit about the common things that fail a home inspection as well. Here are some of the most common issues you can encounter in a condo, which might cause you to reconsider a purchase
- Cracked walls. Because you will be living in a very limited space, you want it to be in pristine condition. Cracked walls can be difficult and expensive to fix, so try to avoid them.
- Mold. Often a sign of high humidity or problems with the plumbing system. If your goal is to avoid problems, it might be better to move somewhere mold-free.
- Sewage smells. Another common sign of plumbing problems. It could only remain a persistent annoyance, or it could develop into something more serious.
- Low water pressure. There is a whole host of problems that could be causing this. And only very few would be yours to fix. Which means you would have very little control over the issue.
- Broken A/C or HVAC systems.Not quite as serious as the other problems. However, if you live in a very hot area, it can be a severe drawback.
- Water damage. Always a bad sign. Can be caused by a leaky roof or plumbing problems. Unfortunately, if your upstairs neighbor experiences flooding or plumbing issues, you cannot do anything about it.
- Exposed wiring.Very dangerous but somewhat easy to fix. You should, nonetheless, be careful around it. Besides, this level of negligence often means a host of other problems to deal with in the condo.
This covers the basics of what buyers need to know about condo inspection! Once again, we would like to remind you that an inspection is essential. Yes, it might cost you. And yes, you could do a fundamental inspection yourself. However, you are very likely to miss a lot of important issues. And once a purchase is made, you will be stuck with the condo for a very long time! So, make the smart choice.
Melanie Parker is an experienced blogger with a background in real estate. Nowadays, she prefers writing articles meant to help those who are searching for their dream homes.