Although most buyers in our market have an inspection when buying a house or townhouse, many will pass when buying a condo. Don't be fooled into thinking there is nothing to be found in a condo inspection.
Just this week I had buyers who are glad they had an inspection on the condo they are purchasing. The same as with buying a house, the inspection gave them a better understanding of the property and some insights into items to put on their watch list. But in this case it went even further.
The electrical panel was built by Federal Pacific Electric Company, one of the most common ciruit breaker panel manufacturers at the time the condo was built. Only problem is, over time some its circuit breakers and other components have been found to be defective… which presents a potential fire hazard.
When I asked the association manager if he knew of any issues with the electrical panels in units in this complex he said no, but they have only been managing the complex for a few months. However, he said they did have issues with panels by the same manufacturer in another complex they manage. There they had the circuit panels replaced in every condo unit in the whole complex! He wasn't aware that this complex had the same circuit panels and will be bringing it up to the board.
This is an example of how the inspection not only alerted the buyers of a possible hazard in the unit they are purchasing, it also alerted the association of possible issues in the complex as a whole. Thank you, Structure Tech Home Inspections!
Don't forget that when you buy a condo, you are not only buying the airspace of your individual unit… anything that affects the complex as a whole also affects you personally and is paid for by your association dues.
Sharlene Hensrud, RE/MAX Results - Email- Edina Condo Realtor
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