Inspections

We had one only because we were buying into a small building, where we are responsible for 1/6 of the cost of any building repairs, and because the diligence process uncovered a dispute about a leak that allegedly (and in fact did) originate in our apartment.

The inspection served little purpose other than for the seller to admit, right before the inspection took place, that said leak did originate in the apartment and agree to a credit to remedy the source. All a game of chicken, basically.

Inspection cost us about $400-450. I wouldn't recommend the guy we used (who incidentally has been recommended by StreetEasy posters, so do your own due diligence). The information we received was extremely basic and not nearly as detailed as I've seen from other inspectors in the past, having owned properties in other cities/states.

If I were buying in a larger co-op, I'd waive inspection unless the diligence process uncovered something unusual.

My client who is quite thorough(so I trust he has researched this company well) has scheduled this group to come in for a look, I'm meeting him Wednesday. I have not worked with them before, I'll let you know how it goes. Whether you need a home inspection is really case by case-in most coops I don't think it is necessary. There are always exceptions such as a place needing a gut renovation, also think in a condo where you are responsible for the HVAC systems and/or if there is a large roof deck as part of a PH are some good reasons to call someone in.

http://www.avtinspect.com/

Keith Burkhardt (broker)

I've never used an inspector when I've bought an apartment -- half of that is that I know what I'm looking at, and half of that is that NYC inspectors, even the decent ones, do much less work than in a typical single-family inspection. (My apologies lad if you used someone I recommended and weren't happy).

If you do hire an inspector, you want them to check for leaks, pests (including a visual inspection for mice, roaches, and bedbugs) and to look at whether your electrical system is up to code. Your broker can basically do these things with you.

Other things a single-family house inspector would do, like looking at the roof and the HVAC system, they're generally not going to have enough access to do.

ali r.
DG Neary Realty

I agree that for large coops, the inspections are typically not done. In condos, it depends. A few years ago, my friend was interested in purchasing a top floor unit in a small newer condo. The inspector uncovered so much, that she backed out. Some of the things were insufficient water pressure, roof terrace that "could have been finished" was not made with the right material and the elevator did not pass as well.

I would say that the rule of thumb is if it's less then 20 units, inspect. If it's a new construction, definitely inspect. Otherwise, go with your gut feeling.

In my old 130 unit coop a few people had inspections done. They contacted the super a few days/a week in advance and the super gave the inspector access to the roof and the boiler. If the super does not do that, then what is the point of inspection?

Thanks, all, this is very helpful. I had thought you always needed the inspection and was pretty surprised when advised otherwise. Good to know it was solid advice.

evnyc, I've bid on 3 apartments and have not done an inspection for any of them nor did I plan on doing one for those apartments unless something came up in the due diligence process (which process we never got to). However, if I were buying an apartment which needed substantial renovations, I would definitely do an inspection prior to signing any contract. Unlike Ali, I have no mechanical aptitude and really would need some help.

Just to follow up, Joe from ATV was good a real no nonsense kind of guy, spent about an 1.5 hours going through the apartment and doing a visual inspection of the facade. I'm not sure if it was really necessary for a post war coop in a very large building, but it did give my client some additional peace of mind.

Hi - a few of you have referred to a due diligence process - what type of due diligence did you do, if not an inspection?