closing inspection

new construction or resale?

was there anything specific in the contract? ie must fix blah blah blah...
30 yrs question is important ...
if it's not up to standard let the festivities begin!!

its new construction, thats what i want to know-if something is no good do i negotiate a lower price,give them a timeline to fix it. also-should i find something wrong even if everything looks good? i dont know many people that have experience with new construction which is why im asking

"also-should i find something wrong even if everything looks good?"

no.

There is something called a "punch list" for new construction which it a list of items which have not been properly built/executed. The builder should be taking that punch list and fixing all of the problems. If something doesn't work, it CLEARLY is a punch list item. But what if the floors slope a little? How do you prove it's bad enough to be fixed? (an actual issue at 280 Park Ave South, where the seller's rep offered to saw the legs down on the buyer's antique furniture so that it would match the slope of the floor and not be as noticeable).

I wrote a piece for Moneywatch that should help some: http://bit.ly/DlPjc

ali r.

freezer, i closed on new construction last year...
also know someone else that did
i am on my way out but will reply later today... or is there a way for us to email each other?

If there's an actual problem, you ask for and you get a financial concession at closing to cover said problem.

This is not the time to a *****. You had your chance to be that already, this is no time to play games. This is the time to make sure nothing awful has happened to the soon-to-be-your beloved real estate since the last time you saw the apartment.

BTW, I think a walk-thru one week before is not in your best interests. I would do it the day before or even earlier on closing day. When I'm buying for myself I don't consent to walk-thrus a week in advance, no way.

{Manhattan real estate agent. And investor}

my walk thru was very professional, there was a punch list and the walk thru person was excellent and he guiding me most of the way. But every building is different, i went to one and guy stood there with a blank piece of paper and a blank face.
check every appliance, every light, the painting around the windows. the moldings, flush every toilet and every check every faucet. every hinge, every door handle and every door. the floor, every edge of the floor and the walls.
If you can bring another person with you then do that. bring a tape measure, a flashlight and a camera.
Give yourself about an hour and best of luck in your new place !!!
if there is something major you will need to send the list to your lawyer and go from there... but hopefully it's just the few small silly things that i had

thx, actually rescheduled my inspection to few days before closing due to my own scheduling conflict, but just wondering what the big deal is if it were done a week ahead of time and then checking on the unit the day before closing. is it because you are scared that the developer is going to damage the unit, or swap out appliances? i think the odds of that happening are slim to none. if thats the case then even doing it the morning of is bad because what if they do something to it while your at the closing?

RE2009-thanks for the input,i plan on checking everything in the apt,it is a small apt so it shouldnt be bad, are the pictures in case something happens between the inspection and the closing?

To test the outlets... bring a nightlight with a working bulb.

"punchlist": noun; a long list of problems that the developer will ignore for the rest of eternity after you close on your apartment

so if i find something major wrong, do i have them write into contract that it will be fixed by certain date?

you keep money in the contract until they fix it, within a reasonable time, or you pay for it from those funds.

i would always do a walkthrough within 48 hrs of closing. you never know what can happen and you will be stuck with it.

Regarding inspection of a new condo; as it seems people here frequently question the seller/developers estimation of square footage on plans, is this something a buyer of a newly constructed unit should also make part of the pre-closing inspection. and if so, who is the best to do it. Do you have to hire an engineer or is the regular inspectors assessment adequate if there is a challenge.

the camera is in the event there is a problem you need fixed.. it's always best to have as much documentation as possible. there is a slim chance you will need it, but you will be kicking yourself if there is an issue. take pics of EVERYTHING, regardless of how small. it always best to be safe.