Always get an inspection - even for a condo
When you have found the house that you want, it’s very important that you get an inspection. Whether you are buying a condo or a house, new or old, always get an inspection. My boyfriend learned from this mistake almost right after he bought the condo we’re living in now. He was advised that he didn’t need an inspection because it was a condo. About 4 months after he moved in he got a complaint from a lady who said her luggage had been damaged from water that had apparently come from our bathroom down to the storage room. Sure enough there was a hole in the grout where the water was leaking from the shower and down into the storage unit below. The wall behind the tile was rotten. This is something an inspector would have noticed.
The lady’s who’s luggage was damaged demanded that he pay for it, and there was nothing he could do about it. We found out that this had happened before so the previous owners knew about it before we bought the place.
If my boyfriend had gotten an inspection this damage would have been noticed and he could have demanded that the problem be fixed before he moved in.
Even if you are buying a brand new house, builders have been known to cut corners to save time and money. Get the inspection to make sure that they have done everything properly.
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It’s because of stories like this one that I can’t see myself owning property as an investment. It’s annoying your boyfriend had to deal with this; just imagine if you had 20 of those condos and you had to deal with these issues on all of them! I don’t have the stomach for it. That’s why I prefer to own internet real estate!
Comment by Cade@BusinessOpportunity — July 8, 2007 @ 11:02 pm
This really is such IMPORTANT advice! I have heard so many stories, and seen it on tv as well. I watch alot of ‘flip’ type home remodeling shows and I can assure anyone - GET INSPECTIONS!!! One lady lost her vision because she bought a house with bats in the attic and prolonged exposure caused her to go blind!!! She didn’t get an inspection.
Great post and great advice!
Comment by Beccagirl — July 9, 2007 @ 4:05 pm
What a hassle! I would have to consider legal action against the previous owner if you’re sure that they knew about it. That’s straight up fraud if they kept it from you.
Comment by John Chow Penalty Box — July 10, 2007 @ 1:40 pm
Yes, always inspect. it is not expensive at all and you can write up a contract with the stipulation that the sale is contingent upon passing inspection, etc.’
An additional mistake we made, though we did have an inspection, was to buy As Is, which is the new trend in listing property these days. Once we moved in and saw teh place with no furniture and pictures on the walls, we saw how many dings and stains there were! And, it is a fairly new home. But, we had no recourse to have them come back and fix the big nail holes in the walls or broken banisters.
Comment by Angie — July 10, 2007 @ 2:30 pm