Inspecting Co-ops and Condos
Date: Monday, January 10, 2005 @ 03:54 PM EST
Topic: Buying
Avoiding unexpected assessments is probably the most compelling reason to have a co-op or condo inspected before buying. Once you're in, that leaky roof, creaky fire escape or antiquated elevator is all yours - and so might be the whopping bills to fix or replace them.
Richard Kasparian, an engineer and home inspector based in Manhasset, N.Y., said that
knowing about problems in advance can help a buyer decide to skip a building altogether, negotiate the purchase price or, at the very least, find out if the reserve fund is sufficient.
"And most of them aren't," Mr. Kasparian said
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