We are going to buy a condo at White Plains, NY. Our attorney said the inspection may not be nessary for a condo because not many problems could be expected. But I feel uncomfortable since it is the biggest investment in my life. And the inspection will only cost around $500, which is almost nothing compared with the condo itself...Any suggestions? Thanks.
2007-05-13 05:08:42 · 5 answers · asked by Jay 4 in Business & Finance ➔ Renting & Real Estate
A condo can have many of the same issues as a house, such as heating, plumbing, electrical. And even if the find something that's in a common area, you'd end up responsible for part of the repair.
Your condo fee normally only covers common areas, not problems within your own unit. And even in common areas, for major repairs there can be special assessments.
Your instincts are right -have the inspection. If they don't find anything, you'll rest easier - and if they do, you'll be real glad you know what you're buying.
2007-05-13 05:12:41 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Get the home inspection. Hopefully it will turn up nothing and give you peace of mind. There are numerous problems that could arise, even in a condo. The inspector will check the electrical, plumbing and major appliances.
2007-05-13 05:14:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Get the inspection. Condos can have problems too.
2007-05-13 05:17:39 · answer #3 · answered by Michael B 5 · 0⤊ 0⤋
THat is an expensive inspection, but if you feel you need one .. get one .. unlike a house you usually pay a maintance fee and anything that is wrong will be repaired...
Good Luck!
2007-05-13 05:13:44 · answer #4 · answered by Miss Know It All 6 · 0⤊ 1⤋
Yes and consider buying Title insurance. Does cc have a big reserve fund in place.
2007-05-13 05:12:58 · answer #5 · answered by smiling_freds_biz_info 6 · 0⤊ 0⤋