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Types of Inspections
A number of inspections are common in residential realty transactions. They include:
- structural inspections (which may also include the foundation, roof, boiler room, furnace, heating, plumbing, appliances, etc.)
- termite inspection
- property boundary survey
- preclose walkthrough
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Structural inspections are particularly important. During these examinations, an inspector comes to the property to determine if there are material or physical defects and whether expensive repairs and replacements are likely to be required in the next few years. This is the kind of inspection discussed in this article. |
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| Condos: Review Strata Minutes |
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| For condos, it’s crucial for the buyer and buyer’s agent to closely review the strata minutes. The agent will often do this beforehand because they know what to look for. Any structural or mechanical issues and potential special assessments based on structural problems found in reviewing the strata minutes can be brought to the attention of the inspector in advance, so he or she can keep an eye out for these issues and for associated problems. |
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