Q&A Corner With Jackie Connelly-Fornuff - Should I Get A Home Inspection For A Co-Op?
Yes and possibly no. Let me 'splain........
A co-op is where you own shares, not the unit itself. The management company is responsible for inside the walls and the exterior of the buildings like the roof, siding, landscaping and so forth. You are responsible for what you can see in the co-op apartment. If there is a hole in the wall, you are responsible to fix that.
When purchasing a co-op, I find that most buyers do not get a home inspection. But, if you are purchasing a co-op that has been renovated through and through, I highly recommend it and here is why:
Last year, my buyer's bought a co-op. The seller left no stone unturned when it came to renovations. It was in diamond condition. Because the seller did all of the work, I recommended to my buyers to get a home inspection. It's good to make sure if all this work was done right and to code.
Inspection day comes and everything is fine except for the electrical work. The breakers were overloaded to the point where it was a serious fire hazard. The seller had no choice but to fix it at his expense.
So, in this case, it's best to get a home inspection to ensure the work was done correctly.
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
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Blog: http://jackieconnellyfornuff.com
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