What to know about a home inspection for a condo

Lenders protect themselves by getting an appraisal. Buyers protect themselves with a home inspection that's designed to point out flaws and needed repairs in a condo unit.

A condo buyer usually has seven to 10 days after signing a purchase agreement to get an inspection. A home inspection of a condo typically involves only the interior of the unit and not the exterior. Thus, a condo home inspection typically takes less time.

An inspection gives the buyer a heads-up on potential problems when it's early enough to walk away from a deal. It also gives the buyer leverage to ask for a lower price if they want to work with the seller on fixing the problems.

Here's what buyers should know about the process:

How to find a home inspector

Buyers should make sure to hire a home inspector with ample experience in condos.

Many buyers rely on their real estate agents to recommend an inspector. Agents likely have used the same inspectors for their past sales and are familiar with their qualifications. They’ve also built relationships with inspectors they trust.

Buyers don’t have to use an agent’s preferred inspector, though. A Google search can be a great starting point to find one on their own. Word of mouth is another source for local inspectors. A friend or family member may be able to offer a referral.

Buyers always should verify an inspector’s credentials no matter how they choose one. States often require home inspectors to obtain a license. A state real estate association is a good starting point. There also are national home inspector associations such as the American Society of Home Inspectors. They certify inspectors, often requiring them to take continuing education courses to stay licensed.

A condo inspection can run from $200 to $500. Larger units can cost more. Inspections in condos tend to be more affordable than those conducted in single-family homes or townhouses because an inspector doesn't have to get on the roof or do a deep dive into the condition of the building.

What home inspectors will point out

It's a good idea for buyers to accompany the home inspector, so that they can see conditions of the condo for themselves and learn about the maintenance that might be required for the unit.  

Buyers will want to be sure that water is not leaking from a neighboring unit into the one they want to purchase. They'll also want to know how much fireproofing and soundproofing are in the walls.

Here are some other issues a home inspector will look for:

Signs of mold
Water damage stains on ceilings or floors
Cracks in ceiling or walls
Unstable floors
Fit of windows and doors
Kitchens, including checking to see if all appliances work
Bathrooms, especially for seals around bathtubs and toilets
Patios and balconies, if applicable
Safety features, including smoke alarm detectors and grounded outlets

What they won't look for

A home inspector will not inspect the exterior structures or mechanical systems of a condo building. These can include:

Roof
Exterior walls
Common plumbing, heating and cooling and electrical systems of building
Condition of exterior walls
Condition of common areas and amenities
Foundation
Siding
Lobbies
Hallways
Elevators

Pro tip: Buyers can order specialized inspections, such as a termite report, an inspection using a sewer camera and mold or air quality tests.

What to do after the home inspection

Home inspectors will complete their report within a few days and share it with the buyer and their agent to review.

Buyers can enforce a contingency clause in the offer stating that the sale is dependent on an acceptable home inspection. Any flaws that turn up give them leverage to ask for concessions from the seller to either fix them or give the buyers money for repairs.

The unit should be reinspected after repairs are made to ensure the issues have been addressed.

Buyers also should ask the home inspector to review the homeowners association documents to learn the HOA's responsibilities concerning repairs, including how long it would take it to respond to requests to fix problems in the building.

In lieu of an inspection outside the unit, buyers can ask the homeowners association for more details about the condition of the building's various components. Buyers may want to learn:

When was the heating/cooling systems installed and last inspected, and what were the results?
When were the sprinkler system and fire alarm last inspected, and what were the results?
When were the balconies last inspected, and what were the results?
Is the building stable or sinking?
Are you aware of any problems with the structural integrity of the building?

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