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How detailed should a home or condo inspection report be, and what should you make sure is checked?

How detailed should a home or condo inspection report be, and what should you make sure is checked?
Buyers should know exactly what they’re buying, as well the unknowns and the risks associated. Inspections are a key component of this process. There are too many items of importance to list, but below are the potential deal breakers that can be most expensive to address. Think 5 figures... (1) Roofing/siding/windows in poor condition, which can lead to water damage or mold. Find an inspector that is hyper vigilant about signs of water intrusion (2) Electrical wiring issues, especially knob & tube. Insurance carriers are starting to require replacement, which can involve opening up walls (3) Structural issues, such as foundation settling or soft-story conditions. Get a second opinion from a structural engineer if any doubts (4) Outdated mechanical systems, including ventilation wrapped with asbestos. Remediation requires a specialist, which can be pricey. When it comes to condos, the expensive issues are typically beyond the walls of the unit itself so a comprehensive study of the building is essential, ideally a 30-year Reserve Study that analyzes expected costs over that timeframe. An HOA’s record keeping can often be used as a proxy for how well the structure is maintained. Most importantly, ask your realtor lots of questions. We're here for you.
 

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