Today I want to talk about home inspections. When I started my career, I did not sell real estate in New York City. Instead, I was in Arizona helping investors buy literally thousands of homes. I did home inspections and hired home inspectors.
Home inspections are a vital part of the real estate sales process everywhere in the United States except for New York City. Here, about 95% of homes do not get inspections. However, this does not mean that inspections are worthless.
For the majority of the people here, they worry that a home inspection will kill the deal. However, it is not the end of the world. For a condo or a co-op, a broker can deliver the message from the buyer to the seller that they want to do a home inspection. It will let the buyer know about the electrical service, the condition of the appliances and HVAC, etc.
"Home inspections are a vital part of the real estate sales process everywhere in the United States except for New York City."
There is nothing wrong with that. However, the time to do this is before you sign the contract. And, you have to approach this in a way that gives the seller comfort because the majority of people are not doing it. So, if you are going to do it, deliver that information gently and with tact.
If you are buying a free-standing home like a townhouse, you will always need to get a home inspection. You need to inspect the roof, the boiler, etc. In this market, you should be paying at least $600 for an inspection, otherwise they may not be doing a good job. In New York, you can get a structural engineer on-site to walk you through the property as they complete the inspection.
When you are buying a townhouse, you should be doing an inspection. Even for some co-ops, it is not a bad idea to inspect the entire structure. However, a lot of people will lead you to believe that it depends on the situation.
If you have any additional questions or are interested in buying or selling, please feel free to contact me. I look forward to speaking with you soon.