Chicago Condo Inspector Chicago Condo Inspection Service

Chicago Condo Inspection Condominium Inspector Information

InspexPro specializes in condo inspecections for individuals and Condominium Associations. As with the home inspection, there are many Health and Safety, financial, Legal and considerstions you need to take into account before you close on your condominium purchase.

In purchasing a condominium, you are purchasing part of a common domain.

The word condominium has its near root in latin. "A place of Common Domain" became Condominium and is commonly shortened "Condo". Webster defines condominium this way 1 a: joint dominion; a government operating under joint rule 2: a politically dependent territory under condominium 3 a: individual ownership of a unit in a multiunit structure (as an apartment building) or on land owned in common (as a town house complex) Your condo inspector should inspect all the components of your condo and condominium development that substantially affect your risk and liability.

Condominiums come in all shapes, sizes, configurations and ages. Condominium developments and association can have as few as two units in a single building and as many as a thouasand units spread among many buildings or sites. Older condo developments pose different considerations to new developments. Is your condo unit New Construction, Pre-Owned, or Vintage?

Is it a Vintage Building with New Construction? Is it a town home or a high rise? Hiring a local Chicago Condo Inspection Service with experience is all types of buildings and condominium projects will go a long way in reducing your risk associated with this large purchase.

The individual condo unit owner is liable not only for their own unit but also for a share of the near common areas. Common area maintence and liability is typically divided amoungst the individual unit owners in order to share the costs. The condo association is responsible for managing the common areas, the individual condo owners are responsible for their share of the expenses and costs and liabilties.

There is an inverse relationship between the number of units in an association and the individual share of liability and expenses. If the number of units in the condo association is small, the percentage of financial liability and responsibility for the condoe owner goes up. As the number of units in a condominium development increase, the risk to the individual condo unit owner decreases.

The Condominium Inspector should not only inspect the living area, but the common areas as well. It is important to discuss the scope of the ispection with your inspector before signing the contract. Most condo inspectors charge according to the scope of the inspection.

Individual Condo Inspection Service

This is a relativly straight forward and simple type of inspection. You have made an offer on a finished, ready to occupy, chicago area condo and you have a contingency clause in your contract that allows for a condo home inspection. In Illinois, the standard real estate contract allows five days to get the condo unit inspected. b>Final Walk Through Inspection

If you have purchased a new construction condo unit in a new or rehabbed condominium project, you are typically afforded a "Final Walk Through Inspection" prior to closing on your condo property. The purpose of the final walkthrough inspection is to show you that all of the promissed items have been installed and functioning as intended prior to closing. There are five important steps you can take to make sure you are prepared for this inspection. is a very important step in managing your risk.

Hire an Attorney

Hire an attorney who specializes in Real Estate, and as importantly, is familiar with Condominium construction.

Plan Ahead

Plan ahead for problems that can arrise with construction delays. Are you flexible with your moving arrangements? What happens if the project is delayed and you have to move? Everyone wants to close on the agreed date, except the condo construction is not complete. Even the contractor or developer, who has not completed their work as agreed to, will want to close. They want their money even if they are not done. Risky to you.

If you are still willing to close, the first thing you must do, is document the present condition of the property. You will need this for future reference. Then you must decide what you are going to do. This will depend on the habitability of the condo and your tollerance or ability to move.

Discuss the possibilities with your attorney.

Scheduling enough time for the final walkthrough inspection prior to your closing. I suggest at least two days. I have seen many times where the closing is scheduled immedialty following the inspection. This is not a great practice. Take into account that a thurogh inspection must be conducted, and a proper report must be completed. It is not a good idea to rush this if at all possible. While this does put us in a tight situation, I am willing to work with you to make sure a proper inspection and report can be delivered in resonable time for your closing.

Hire an Inspector

Having an expert at your side during this inspection will help ensure there are no hidden surprises. I have seen hundreds of projects in all levels of completion. If a project is not complete, it does not mean you cannot close. Hiring an experienced inspector will allow you to properly document the condition of the property so you can weigh your options with the advice of your attorney. If you do not hire an inspector to walk beside you, you are responsible to document the condition of the property yourself.

Many reputable developers will help you with this process. But remember, they have a vested intrest in getting you to close with as few problems as possible.

Read and understand your real estate contract.

Again, this is where your attorney will help. Understanding your condo warrantee and real estate contract is key to getting things completed.

Document any outstanding issues and record and present them prior to your 1 year warrantee inspection clause expiring. Yes, this is where I come in again! Give me a call and I will return to your property around the 10 month anneversary of your closing and write up another report. This will be submitted to your developer in such a way that you are properly notifying them of claims prior to the expiration of your one year warantee.

The final walkthrough inspection typically takes place just prior to the closing. Scheduling your final walkthrough The final walkthrough inspection can put great pressure on the buyer. This is a very important Inspection! This inspection can be quite overwhelming for the buyer. As a buyer, you are making plans to move in. You may have an Apartment lease or real estate contract due on your current home, and you are ready or need to move. If this is the case, it puts you in a vulnerable position. Many times, the work is not complete or problems are found in your new condo. While most contractors work hard to meet their deadlines, problems do arrise and projects get delayed. b>Punch List Inspection

First Year Warrantee Inspection

Multiple Unit Inspections

Homeowners Condo Association Inspection

Comprehensive Condo Building Inspection Servicep> Homeowners Condo Association Reserve Anylysis

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