Co-op Inspection?

Hi,

I was wondering about co-ops and the inspection process. The real estate agent that sells most of the co-ops for this one co-op told us that very rarely do buyers opt for an inspection.

Re: Co-op Inspection?

I purchased my last co-op without paying for an inspection.

Make sure that the apartment appraises out and that the buildings financials are in order.

Re: Co-op Inspection?

We purchased our co-op and did not do an inspection. My dad is in the construction biz so he came over and had a look. I suggest bringing someone who knows about houses and they can offer you an opinion.

Re: Co-op Inspection?

its a waset-imo we did not get one. The co-op is usally responsible for maintaining the building to a certain extent anyway. Inspections are usually done to check things such as roof issues, foundation issues, cooling and heating issues- all of which most co op associations maintain.

Re: Co-op Inspection?

We owned a co-op and did not have an inspection. It can be done but at the same time it's important to understand that it's either going to be a make or break to your decision. I can't imagine that any owner would allow a buyer to re-negotiate the price based on an inspection because owners don't physically own the property. They own shares. Any problems to the structure go through the management company. Hope that makes sense.