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Farheen, Other/Just Looking in

I am purchasing a coop apartment in Queens NY - do I need to get an inspection?

Asked by Farheen, Mon Feb 7, 2011

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7
Farheen,
It is always the buyer's option to have an inspection done on a property and as a REALTOR i always recommend it to my clients, However when it comes to a co-op, the management company are responsible for keeping the building well taken care of, the choice is up to you.

best of luck
0 votes Thank Flag Link Mon Apr 11, 2011
"Do I need to get an inspection", I am not licensed there but here in Arizona all inspections are at the option of the client/buyer. I HIGHLY recommend them, even if you are purchasing a REO/Short sale with "As Is" as it provides you with more information and maybe you will need to cancel because of what you find OR at the very least it will provide you with a blueprint of how the unit works and operates.

To directly answer your question, however I am closing on a Condo here in Tucson, AZ and my client had inspections done just in case. Really $300 or whatever they cost there to protect an investment that costs much more than that.
Best of luck.
Spirit
0 votes Thank Flag Link Tue Feb 8, 2011
Hi Farheen,

The choice is up to you. But with Coop's the building management is responsible for the upkeep of the building/structure. Hope this helps.

Should you have any other questions, please feel free to contact me.

Best of Luck!

Rocco Guercio
Loan Officer
0 votes Thank Flag Link Tue Feb 8, 2011
Hi, It doesn't hurt to get one done. Keep in mind with a coop the building is responsible for what's inside, with a condo you are. As a buyers agent I always advise my clients to get one for peace of mind. It is true that many people don't do them for coops but if you do be careful how much you pay. Inspections are priced based on size of the place and the services involved. There shouldn't be too much involved in inspecting a coop.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
0 votes Thank Flag Link Tue Feb 8, 2011
Dear Farheen,

In my transactions, none of my clients have ever opted to have an inspection done on a coop or condo. Until recently one client of mine has decided to have an inspection done on a condo (foreclosed unit) that he is purchasing. It is a personal preference and it will probably cost you between $200 - $300 if you decide to have one done. Please discuss with your agent and attorney.

Best of luck.

Nirmala Caraballo
Licensed Real Estate Agent
Cruse Realty
1408 White Plains Road
Bronx, NY 10462
Cell: 646-479-7873
Email: nhcaraballo@yahoo.com
0 votes Thank Flag Link Tue Feb 8, 2011
You have the right to hire an inspector but since maintenance is responsible for all the plumbing, electrical and structural problems, you are covered. I sell mostly co-ops and only 1% of my clients have hired an inspector. It costs anywhere from $300 so most people choose not to take on the extra expense. It's more important to make sure you are investing in a financially sound co-op. Which co-ops have you been looking into?
0 votes Thank Flag Link Mon Feb 7, 2011
The decision to have an inspection is entirely yours--however, most co-op buyers opt not to, and instead purchase a better personal property insurance policy--keep in mind the complex is responsible for all interconnected piping, electric, roof repairs, heating/AC system repairs, etc.; what is your agent and or attorney advising....
0 votes Thank Flag Link Mon Feb 7, 2011
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