Qualified for A condominium Home Inspection

By
Real Estate Agent with RE/MAX Realty Specialists Inc.,

A book by Mark Weisleder – Put the Pen Down! What Homebuyers and Sellers Need to Know Before Signing On The Dotted Line – will prepare you well for closing day, and the day after.

The veteran real estate lawyer and instructor adapted two other books he wrote for real estate agents to suit the owners and buyers who pay for their services. He has packed in a wealth of information.

More importantly, an inspector could gauge the condition of the building’s heating, ventilation and air condition system, the roof and the garage. He or she could look into the building status certificate, condo association reserve fund, bylaws and rules, if the buyer knew to include this in the offer of purchase.

David Pylyp; There is no objection or interest to impede a home inspection on a high rise condominium unit and I have often recommended a home inspector using thermal imaging technology (Shows you if you have water in the ceilings or behind walls) BUT... BUT>>>>

Is the Home Inspector selected by the Purchaser qualified and licensed to render an opinion on the condition of the Heating, Ventilation, Roof, Parking, Garage, Plumbing Electrical and appliance condition? How is the Home inspector qualified to read a financial statement contained in the Status Certificate about the long term requirements to repair or capital improvement budgets?

Maybe the Board of Directors of the Condominium Corporation having completed their Reserve Fund Studies as required every five years by Ontario Legislation; have decided that OTHER items need attention first. Who will provide the qualified and quantified answer?

The Home Inspectors that I generally meet have a specific trade specialty and have retired, modified, or evolved their career from construction into home inspections. While the standards are ever increasing to the betterment for the consumer; I am not aware of a financial statement analysis component in the Home Inspection Licensing Program.

It sounds great. But It just won't happen.

Comments (5)

Jeana Cowie
RE/MAX Real Estate Limited - Paramus, NJ
Broker Associate, ABR, CRS, GRI, SRES

David, Wow - Thermal Imaging Technology sounds extremely high tech. How would you find an inspector who uses that?

Sep 28, 2010 01:19 AM
Carla Harbert
www.LorainCountyHomeSales.com - Avon, OH
RE/MAX Omega: Lorain-Medina County Area

Oh my gosh, Thermal Imaging Technology? I would hate to see the price charged for that one!

Sep 28, 2010 02:50 AM
David Pylyp
RE/MAX Realty Specialists Inc., - Toronto, ON

The charge for a Normal home inspection is all that I have seen him charge.

It seems to be part of his toolbox of skills.

Russ Fasullo

(416) 805-3651 better number (416) 605-3651

ahminspections@sympatico.ca

http://ahminspections.ca/home.html

Russ operates in the Southern Ontario region that comprises the Toronto GTA

 

Sep 28, 2010 12:41 PM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

David,

 

This seems to be well beyond the areas of expertise of any home inspector that I know.

The good ones are often retired contractors and the bad ones are "would be" contractors who are just out of work.

I would want an accounting firm with experience in the preparation of condo financial statements to offer an opinion on financial matters.

 

Brian

Sep 29, 2010 12:58 AM
David Pylyp
RE/MAX Realty Specialists Inc., - Toronto, ON

That was exactly my point Brian!

I have an accounting desigation; but unless you are inside the condo Board of Director Meetings, and you requested the Minutes of the last AGM Annual General Meeting  You would have no way to contextualize or quantify the results displayed very coldly in a Financial Profit and Loss statement and their decision process of how long term capital budgets would be committed.

It is the Buyer who ultimately selects and engages all the side "trades" IE Inspectors Appraisers Surveyors, Brokers, Bankers, Insurance agents...

The Other clause Mark suggested was "Home insurance at a reasonable expense"

I think ALL insurance is unreasonably expensive given their stock market losses and their need to recoup revenues through premiums.

IMHO But what do I know....

 

 

 

Sep 29, 2010 01:21 AM