Home Buying in 11364>Question Details

Star, Both Buyer and Seller in Flushing, Queens, NY

Has anyone buying a coop ever had a pre-purchase coop inspection done? We are DEFINITELY GOING TO have one.

Asked by Star, Flushing, Queens, NY Sat Mar 21, 2009

done IN THE UNIT WE ARE PLANNING TO BUY AS WELL AS THE COMMON AREAS and the seller's agent has given us a VERY hard time (we have not gone to contract yet) ....but he realized my partner would not take no for an answer so he relented. He went as far as to tell my partner that we are doing things "ass backwards". Why would a seller's agent for a (very large, well-established, well financed, garden apartment style coop) unit act in such a manner...even saying he couldn't understand why we would want an inspection...that we weren't buying property...we were only buying shares. (The owner is not around...she has moved to Florida)...a previous deal for this unit fell through and it came back on the market. Thanks in advance for input.

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2
Anna Brocco’s answer
You can, but keep in mind you only own shares of the corporation and you are not responsible for the building's roof, main pipes, main heating components etc. A home warranty would you save you money.

Anna
0 votes Thank Flag Link Tue Mar 24, 2009
Star,

Often purchasers of co-ops, where the mechanicals, roof, etc are not owned, opt to purchase a Home Warranty to cover defects and failures in appliances rather than have an inspection. That, however, should not stop your from performing one, if it makes you feel more comfortable about your purchase.
0 votes Thank Flag Link Sat Mar 21, 2009
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