When it comes to inspections, condos require special considerations. Homeowners Associations (HOAs) typically offset unfunded maintenance obligations by evaluating each individual owner of a condo unit. This is a one-time charge so that the HOA can continue with the necessary maintenance of the building. If there is a large backlog of outstanding maintenance tasks, evaluations can be costly and even represent a significant percentage of the value of each unit.
Therefore, when you buy a condo, your greatest risk is usually the general condition of the buildings, combined with the overall “state” of the HOA, not the interior of the unit. Depending on the state or states in which you inspect, your Standard Operating Procedure (SOP) may require you to inspect shared spaces or components of condominium buildings, such as roofs, attics, mezzanines, and elevators. The kitchen and bathroom within the condominiums would need proper maintenance, especially if they were occupied by a previous tenant. The contract and report will look a little different between apartment buildings and condominiums, as the exclusions and SOP will be adjusted to better suit those unique types of housing. Most people tend to think that home inspections apply to single-family homes, but there are also many important reasons why a condo should be inspected before signing a dotted line. Especially if the previous owner did any renovations, the best thing for any potential buyer is to have their condo inspected.
If the condo has wooden floors, it is essential to check if there are spaces between the floor and the baseboards. Once you're done inspecting the floor and ceilings, the next area to inspect is the condo's plumbing system. You can then take the information obtained from a full inspection of the condo, as well as the information you get from the Homeowners Association, and try to assess the overall “condition” of the condo. If buyers buy a condo without knowing the various problems, they have no choice but to spend money to fix them. It is important for buyers to be aware of what to look for when inspecting a condo so that they can make an informed decision. When it comes to inspections for condos, it is important to look at all areas of the complex including mezzanines from entrances and attics that connect directly to units.
This will ensure that firewalls are installed and that there are no major visible problems. It is also important to assess any renovations done by previous owners and check for spaces between floors and baseboards. Finally, it is important to inspect plumbing systems and assess overall condition of condos.
