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  1. #1
    soopster's Avatar
    soopster Guest

    Default Buying condo in a building exposed for several years

    Hi, I am considering purchasing a condo in an expensive part of NYC. The building has been in various stages of construction and non-construction for approximately 3-4 years, exposed to the elements, not entirely enclosed for significant periods of time. I have some questions

    1 - what type of inspection on the building itself should I arrange to ensure there is no lasting damage to the building itself? how much is this likely to cost (approximately), and how might it be accomplished given that the building is around 6 months from being ready for occupancy?

    2 - what types of damage is it most important to inspect for? mold? moisture? structural? (not sure how you look for structural given that most is likely already covered)

    Other thoughts appreciated.

    condos in this building go from $800k - $1.3m for 2BRs, so this is an expensive purchase.


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  2. #2
    Join Date
    Mar 2007

    Default Re: Buying condo in a building exposed for several years

    At you're purchase cost, unless mommy is buying it for you, you are a professional that knows, hiring the right person makes you money.
    That being said, give us more info.
    Are you buying the first unit?
    How many units are in the building?
    Is there and established association?
    You need a home inspector, and a good one.
    If you have to skimp on a deal.
    Skimp on your girlfirends new earrings.
    Pay you're home inspector what he deserves.

  3. #3
    soopster's Avatar
    soopster Guest

    Default Re: Buying condo in a building exposed for several years

    Thanks - yes I have an offer in for one of the first units.

    The building just came to market a few days ago. It's around 40 units approximately 12 stories

    Not trying to suggest I would skimp on the inspection but was mainly wondering what type of inspection and whether this would cost many thousands of dollars given the size of the building and the nature of what might need to be inspected.

    Thanks for any advice.

  4. #4
    Join Date
    Mar 2007

    Default Re: Buying condo in a building exposed for several years

    Realistically, your money/time would be better spent investigating the building/project as a whole as opposed to only your unit. An assessment to pay for a huge problem that the HOA is responsible for would likely far exceed anything that would be wrong with your unit. And I'm not trying to discount your individual need for an inspection but just realize there's much more to your potential responsibility than just the inside of your unit.

    I'm not sure I agree with the previous post about needing the best inspector in the world. Of course, you need a good inspector but what he's going to be focused on is just the inside of your unit.... unless you're paying him to inspect the entire building


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