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September 8, 2015

What To Expect During A CONDO Inspection

Filed under: Center City Real Estate,For Buyers,For Sellers,General Real Estate — Center City Philadelphia Real Estate Agent @ 10:07 am

When buying a condo- there really isn’t a whole lot that can be wrong with the unit. I say that because in a condo- you don’t own the roof. You don’t own the foundation. You don’t own the exterior….you only own a portion of those elements in most buildings around town like Naval Square condos. So that leaves things like a dishwasher, electrical outlets and a few other miscellaneous elements throughout the condo.

And know that a seller CAN NOT affect repairs to a common element. So let’s say you are buying a Brownstone styled condo and the inspector finds that the roof is older than normal. You can not ask the seller to repair that roof because the seller does not own that roof and rules and regs of the condo docs state that any individual may not affect any repairs to a common element.

 

Know that condo home inspections generally last about an hour and cost around $350- depending really upon the size of the condo. Some inspections cost more and some take longer, but it has been my experience that an hour and $350 about does it.  You needn’t attend if you like (though I suggest you do) and you will get an 18 page report back telling you about the “hell hole” you have just purchased 🙂   Inspection reports can be daunting….but I suggest we go through the report to put things into perspective and decide the best course of action for your needs.

I do have a list of home inspectors I know and trust, or you can choose one of your own. Just know that per terms of the contract, we will have a window of opportunity to have the inspection performed and send results to the seller- so time is of the essence.

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