Home, Commercial Expert Witness, Construction Defect inspector in Pasadena, Arcadia, Sierra Madre, Glendora, San Marino, Monrovia, Covina, San Gabriel, Altadena and surrounding cities. Pasadena Home Inspection
Phone: (626) 246-8833 Visa MasterCard michael@national400inspections.com
Michael R. Moore - MCI Fully insured with both Errors and Omission
and General Liability Insurance
National400Inspections.com
Full color digital photos of defects and reportable conditions are included with every inspection

Buying a Condo or Townhome?

These properties are legally classified as a “Common Interest Development” (CID), however, are much more commonly referred to as a “Homeowner’s Association” (HOA), whereby all of the individual owners pay a monthly amount “(Assessment”) into a common HOA account to maintain the HOA “common areas” of the property. Examples of HOA common area components include the grounds, driveways and parking areas, termite eradication (fumigation), landscaping, roofs, painting, elevators, plumbing systems, water heating systems, electrical systems and lighting, and recreational facilities such as pools, spas, gyms, recreation rooms, etc.

With these properties, having the unit thoroughly inspected by a highly qualified and experienced inspector is only PART of your due diligence as a buyer! Remember, as a buyer, you are purchasing a percentage of EACH AND EVERY HOA common area component as well. For example, in a 20 unit HOA you own (and pay to maintain) 1/20th of each and every common area component. You should have a very pro-active interest in how those components are being maintained, and more importantly, find out if there are sufficient HOA funds “in reserve” to maintain and/or replace those components when the need arises.

In addition to having your unit physically inspected, as part of your buyer’s due diligence, there are numerous very important questions that you should be asking and various documents you should be requesting and reviewing during your physical inspection contingency period. Failure to do so in a timely, diligent and prudent manner, could result in undesirable (and possibly significant) negative financial impacts on your purchase/investment. A common example would be the dreaded “special assessment” whereby all owners are charged a fee , sometimes 1000’s of dollars, to pay for the emergency replacement of outdated, neglected and otherwise maintenance-deferred HOA components. This situation is extremely inequitable to the new buyer (read: YOU), and should be avoided at all costs!

It has been my experience (over 21 years and 5,000 inspections performed) that most buyers and (unfortunately) many of the Realtors representing them are uneducated or significantly undereducated as to what specific questions they should be asking the HOA and the various HOA documents they should be requesting and reading. This is where I can help, and sets me apart (and head and shoulders above) my inspector peers, as most of my “competition” are also uneducated, inexperienced, and generally unaware in this regard. I have been performing HOA “Reserve Study” inspections and reports for a high-end, respected, well-established local professional Reserve Study company for over 11 years now, and as such I am intimately familiar with what I am recommending to you. On each and every inspection of an HOA property I educate my clients which empowers them in avoiding the common purchase pitfalls unique to and associated with these properties.

 

To Schedule An Inspection Please Call:
Michael R. Moore
National 400 Home Inspections
Phone: (626) 246-8833
3232 Brookridge Rd., Duarte, California 91010
E-mail: michael@national400inspections.com
http://www.National400Inspections.com

International Code Council. Certified Combination Dwelling Inspector # 5039922-55
Licensed General Contractor Home Improvement Contractor International Association of Plumbing and Mechanical Officials (IAPMO) Certified Mechanical Inspector Certified Plumbing Inspector State of California Division of Codes and Standards Manufactured Housing Program

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