Home inspections are important but how important are they when buying a condo? The Home Owners Association covers the siding, roof and general frame of the property, right? However, would you buy a car with several problems even if the dealership promised to repair them? Probably not. This is why an inspection of the condominium AND the association is vital to your purchase.
Condos in the Panama City Beach area are up! Inspecting those condominiums is crucial to the integrity of the building and your new home.
As a buyer and potential condominium owner, it is important to know what you are buying. A condo inspection will not only check everything on the inside of your four walls but the structure as a whole.
The responsibility as a potential buyer to consult the HOA regarding the financial stability of accounts, reserve and maintenance is on you. The last homeowner could have kept the inside spotless, replaced leaky faucets, failing carpets or floors and repaired little issues that came along but the association could have completely neglected the siding, roof or landscaping. IF the HOA does not take care of the outside of the property, it will greatly affect your livability inside.
What a condo inspection includes:
Condo inspections should include most of the inspections done on any house including the heating and cooling systems, plumbing, electrical, attic (if applicable), outlets, foundations, windows and seals, floors, and visible insulation. You should request an inspector who is proficient in condo inspections so they know what to look for. You might ask if the inspector knows the complex ahead of time and of any major issues a potential buyer should know.
As a seller, you may want to get a pre-inspection on your condo so that you are not surprised with any major issues or repairs needed once the buyer does their due diligence. If you discover the HOA has neglected a major issue on the property, it is best to deal with this before listing if you can. Talk to the board or management about correcting any safety issues or hazardous problems before the buyer finds them.
Having a condo inspection is much more than just going through the inside of the unit. It is an in depth study and report of the integrity of the association, the building, and the property in general. It can be more beneficial than a single-family inspection in that you can get to know your neighbors, the building, your unit and the association.
Contact us today to find a condo inspector in your area.