Home Buying in Ocean City>Question Details

John, Home Buyer in Ocean City, NJ

When buying a 1 bedroom 500Sqft condo.should you have a home inspection?

Asked by John, Ocean City, NJ Mon Mar 26, 2012

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Obviously the simple answer is YES. The next obvious questions is who do you call... Another simple answer... call Jeff Vanance of Housemasters 609-601-8800 he's the best, or schedule your appointment online at http://www.housemaster.com/

The difficult hurdle you will face in that transaction is the financing, if you have the cash Rock On, more power to ya. I'd stay away from the big banks because they won't touch financing a unit under 800 square feet, I highly recommend going with a local community bank down here at the shore that understands the market and is familar with condotel financing.

Let me know if you need to talk with a mortgage specialist with one of our local banks, I'd be happy to recommend a few we work with that aren't prohibited in financing these smaller units.

Best of Luck!!!
0 votes Thank Flag Link Mon Mar 26, 2012
Hi John,

I manage a 46 unit condominium complex here in Ocean City and I always recommend a home inspection, even though I know the building and the financials inside and out. Obviously the process is much simpler than that of a single family home, but just as important. Most inspectors will take this into account when charging the homebuyer.

You have no idea how each individual owner has maintained the HVAC unit, the appliances etc. Also the plumbing and electrical are the responsibility of each owner. Especially if the unit has had multiple owners. We recommend a Spring and a Fall maintenance of the HVAV but you would be surprised how many owners actually do it.

With a home inspection, you will know exactly how well the unit was cared for and what will be needed to make your purchase a happy one ...rather than a money pit of unforseen expenses..

Feel free to contact me if I can be of further assistance ,

Dawn Scarlata
871 7th Street, Ocean City
609-425-2933 cell
609-398-5500 office
dawn.scarlata@remax.net
0 votes Thank Flag Link Mon Mar 26, 2012
Hi John,

I manage a 46 unit condominium complex here in Ocean City and I always recommend a home inspection, even though I know the building and the financials inside and out. Obviously the process is much simpler than that of a single family home, but just as important. Most inspectors will take this into account when charging the homebuyer.

You have no idea how each individual owner has maintained the HVAC unit, the appliances etc. Also the plumbing and electrical are the responsibility of each owner. Especially if the unit has had multiple owners. We recommend a Spring and a Fall maintenance of the HVAV but you would be surprised how many owners actually do it.

With a home inspection, you will know exactly how well the unit was cared for and what will be needed to make your purchase a happy one ...rather than a money pit of unforseen expenses..

Feel free to contact me if I can be of further assistance ,

Dawn Scarlata
871 7th Street, Ocean City
609-425-2933 cell
609-398-5500 office
dawn.scarlata@remax.net
0 votes Thank Flag Link Mon Mar 26, 2012
Hi John,

I always recommend getting a home inspection on any property that you are buying.
0 votes Thank Flag Link Mon Mar 26, 2012
Yep, John...they are all right about the home inspection...always on any kind of building you are buying...you should even have one on a used car!!

Have a great day.

Rick Adams, REMAX at the Shore, Ocean City
3301 Bay Avenue, Ocean City
office 609-398-7100...cell 609-602-0684
richardadams@remax.net
http://www.radamsteam.remax-nj.com
0 votes Thank Flag Link Mon Mar 26, 2012
You really need to do an inspection. The inspector will let you know of any defects, but will also give you a "Homeowner's 101" Class about the townhome. So when you close on the property, you will know everything there is to know about your property
0 votes Thank Flag Link Mon Mar 26, 2012
John,

I always encourage a home inspection however if you are buying in a multi-unit building and the unit is onlt 500 sq ft, there is much less to inspect. Location of the unit and how the property is constructed plays a big part in what you will be inspecting. If the building is a cement structure than floors, walls and ceilings are all "common" parts of the structure that the Association will be responsible for. Typically a unit that size is responsible for all the electrical and plumbing inside that unit, any windows and doors. After that there really isn't much more to inspect because the rest is typically common areas. what building are you looking into? I may have some local knowledge for you. Let me know if I can help you!

Kevin Redmond
Ocean City Realty
609-513-6220
kgredmond@comcast.net
0 votes Thank Flag Link Mon Mar 26, 2012
Yes you should always have a home inspection and termite inspection.
0 votes Thank Flag Link Mon Mar 26, 2012
Everyone has concurred that you should have a home inspection, regardless of what you are buying. The types of things that you may find out in a small condo inspection could include: garbage disposal has been removed, although switch and wiring remain; elevator inspections not up to date in building; air conditioning/heating unit under the window is not fully functional and fan only runs on one speed; clothes dryer is vented into the unit. Even if the inspector finds nothing wrong, he/she should provide you with lots of useful information about owning the type of property you are buying, and the kinds of maintenance you will need to do.

Joan Farrell
Monihan Realty Inc.
800-255-1311 office
609-517-7644 cell
http://www.joanfarrell.com
0 votes Thank Flag Link Mon Mar 26, 2012
I believe a home inspection is vital for all home purchases. Your home inspector can check the roof and heating/ac sources in the condo main building area as well as give you an idea of any potential flaws in the building that may cause major assessments in the future. An example may be that the roof needs replacing, there is evidence that the windows are old and leaking and should be replaced and point out possible code violations that will need to be dealt with. You can then decide if there will have sufficient funds in the condo reserve to pay for these repairs or if the condo owners will be given a "special assessment" to pay for them. Money well spent for the inspection!
0 votes Thank Flag Link Mon Mar 26, 2012
An inspection is one of those necessary evils. When I speak with anyone about purchasing a property I tell them get your biggest investment in your life inspected it is a MUST. A little money up front is better then a huge bill later. Call around or if you are dealing with an agent get a consolidated list from them. Go and have a good home buyer experience

Jeremy L. Hollingsworth
ERA Strother Real Estate
I don't just sell homes, I sell DREAMS!
910-978-0685

If this helps you give a thumb up..
0 votes Thank Flag Link Mon Mar 26, 2012
yes you should never buy any thing with out one
0 votes Thank Flag Link Mon Mar 26, 2012
You should always have a home inspection. A real estate is a large investment and it makes sense to have a professional look it over for you. If you need anything further please call me 609-289-2916 or email robertbond@verizon.net

Robert Bond
RE/MAX OF OCEAN CITY
Office 609-398-7101
Cell 609-289-2916
email robertbond@verizon.net
Home Office Fax 1-866-591-1944
web: http://www.robbond.com
0 votes Thank Flag Link Mon Mar 26, 2012
John,
A home inspetion is always a good idea. You just never know what you will find.
Ask your Realtor to recommend one.
Michelle
0 votes Thank Flag Link Mon Mar 26, 2012
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