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Getting a home inspection on a townhome question
Posted on 6/20/18 at 7:11 pm
Posted on 6/20/18 at 7:11 pm
I have been renting a townhome for 5 years and recently the landlord said they would like to sell. Either move or buy it. They offered it "as is" meaning that they don't need to do repair work etc. This has me about 20k below the sale prices of other TH's in the neighborhood. Most repairs are superficial which I can handle myself.
It has a new water heater, HVAC still working well and the only issues has been water leaking from an overflow toilet to below to the garage ceiling which caused one piece of dry wall to fall.
My question is, since the outside is covered by the HOA, I know the condition of plumbing, HVAC, water heater etc. Is there much benefit to spending $500+ to get an inspection? Mold from that water damage is the most concerning but that happened years ago now and it is dry as a bone and was a one time incident and not an ongoing leak. What are the boards thoughts?
It has a new water heater, HVAC still working well and the only issues has been water leaking from an overflow toilet to below to the garage ceiling which caused one piece of dry wall to fall.
My question is, since the outside is covered by the HOA, I know the condition of plumbing, HVAC, water heater etc. Is there much benefit to spending $500+ to get an inspection? Mold from that water damage is the most concerning but that happened years ago now and it is dry as a bone and was a one time incident and not an ongoing leak. What are the boards thoughts?
12
Posted on 6/20/18 at 7:12 pm to flyAU
Just buy it and enjoy the lower monthly note.
An inspection will not tell you anything else you don’t know.
An inspection will not tell you anything else you don’t know.
This post was edited on 6/20/18 at 7:13 pm
Posted on 6/20/18 at 7:13 pm to flyAU
quote:
Is there much benefit to spending $500+ to get an inspection?
I guess that depends on what they find.
Posted on 6/20/18 at 7:14 pm to flyAU
You have to unless it's a cash buy. Bank/mortgage company is not gonna approve a loan without one
If it's a cash buy then hey, frick it
If it's a cash buy then hey, frick it
Posted on 6/20/18 at 7:14 pm to flyAU
You'd be surprised what comes up on an inspection, so yeah I'd do it. Do you not have a real estate agent or anything?
Posted on 6/20/18 at 7:16 pm to flyAU
quote:
since the outside is covered by the HOA
Are you in a townhome or is it a condominium unit?
This post was edited on 6/20/18 at 7:19 pm
Posted on 6/20/18 at 7:18 pm to flyAU
No. A home inspection is a waste if you actually live in the property and understand the age of the home.
Posted on 6/20/18 at 7:21 pm to AUCE05
Or if you’re financing the purchase...
ETA: my lender required it, but appears that isn’t the case everywhere. Still think it’s stupid to not get an inspection on such a major purchase.
ETA: my lender required it, but appears that isn’t the case everywhere. Still think it’s stupid to not get an inspection on such a major purchase.
This post was edited on 6/20/18 at 7:41 pm
Posted on 6/20/18 at 7:22 pm to flyAU
Get an inspection. There should be no discussion on this
Posted on 6/20/18 at 7:23 pm to WaterLink
My landlord is a real estate agent so this was a going as a direct buy not on the market.
It’s a 3 story townhome, not a condo.
I have had people say it’s a waste of money and others think I am insane to not get one. I have lived here for so long that I know the internal pieces that need fixing, anything “outside my walls” is HOA territory.
It’s a 3 story townhome, not a condo.
I have had people say it’s a waste of money and others think I am insane to not get one. I have lived here for so long that I know the internal pieces that need fixing, anything “outside my walls” is HOA territory.
Posted on 6/20/18 at 7:25 pm to halleburton
Would be putting 20% down. Have had no mortgage company’s say an inspection is needed. Appraisal? Yes. Inspection? Not mentioned to me.
Posted on 6/20/18 at 7:25 pm to genro
quote:
You have to unless it's a cash buy. Bank/mortgage company is not gonna approve a loan without one
Really? My lender required an appraisal, but an inspection was optional.
Posted on 6/20/18 at 7:28 pm to Evil Little Thing
Furthermore, a mold inspection would raise it to $800. What are the chances that a one time leak has mold hiding behind the walls? It is dry now so it’s not ongoing moisture.
Posted on 6/20/18 at 7:28 pm to flyAU
Looking to drop 6 figures on a home
Complains about a $500 inspection
Never change, OT
Complains about a $500 inspection
Never change, OT
Posted on 6/20/18 at 7:32 pm to flyAU
Real home inspections are done by engineers. They crawl everywhere and ostensibly have a wide range of expertise and find things you don't know about - wiring, duct, insulation, sealing and venting, structural support, slab/crawlspace, underground gases and water, roof heat absorption etc
Posted on 6/20/18 at 7:32 pm to flyAU
quote:
It’s a 3 story townhome, not a condo.
Then how is "the outside covered by the HOA"? A townhome has common walls with adjacent townhomes, but the roof and exterior walls are owned by the owner of the townhome and would be your responsibility to maintain.
Posted on 6/20/18 at 7:35 pm to Evil Little Thing
quote:
quote:
You have to unless it's a cash buy. Bank/mortgage company is not gonna approve a loan without one
Really? My lender required an appraisal, but an inspection was optional.
You are correct. A mortgage lender would require an appraisal, not an inspection unless the home is new construction, in which case the inspection is done to insure that the home is complete.
Posted on 6/20/18 at 7:40 pm to flyAU
quote:
It’s a 3 story townhome, not a condo
Condo HOA’s cover maintenance and insurance for exterior. Hence the high HOA dues. Unit owner is only responsible for their interior.
Townhome owners are responsible for the exterior siding and roofing of their own unit. HOA may take care of landscaping and amenities like a community pool or playground.
Posted on 6/20/18 at 7:42 pm to flyAU
Inspections are worthless, because the inspector isn’t on the hook for anything he misses.
They’ll tell you a mostly cosmetic bannister is loose, but may totally miss the rotten subfloor behind the toilet.
They’ll tell you a mostly cosmetic bannister is loose, but may totally miss the rotten subfloor behind the toilet.
This post was edited on 6/20/18 at 7:43 pm
Posted on 6/20/18 at 7:48 pm to Evil Little Thing
quote:You're right. I mismembered and mistakeded them
Really? My lender required an appraisal, but an inspection was optional.
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