Some home buyers may be tempted to forgo a condo inspection because they believe that any major issues will be covered by an HOA (Home Owners Association). In most instances the HOA only covers what is outside of the walls. Many potential problems occur within the walls of your unit and even shared walls, that are not covered by your HOA. A condominium can quickly become a money pit, if you are not aware of a furnace, hot water tank, plumbing or electrical wiring that is on the fritz.
At Integrity Home Evaluation Services we are familiar with condominiums in Northeast Ohio and what structural issues some areas may be dealing with. One area of concern in condominiums that we see often is the use of FPE (Federal Pacific Electric) circuit breakers or Stab-Lok Breakers. Homes and condos build between 1950 and 1990 may have FPE circuit breakers, which have since been considered defective and a safety hazard. FPE or Stab-Lok breakers pose a risk to homeowners because they offer no ground wiring to prevent over loading. The breakers may not trip correctly if moisture is detected near the outlet as well. FPE breakers cause over 2,000 fires a year and some insurance companies will not cover properties if they are equipped with these breaker panels.
Integrity Home Evaluation Services condominium inspections include a through review of all electrical panels, outlets, heating, cooling systems and plumbing systems. We assess attics, foundations, windows, roofs, seals, floors and visible insulation. A condominium inspection will inform you of cracks and damaged walls, water damage, water flow and drainage issues, damage to shared walls and structures as well as patio and deck structure. Even if your HOA is responsible for repairs, you will be informed when discussing issues with the current seller or management board.
Another important issue that potential condo owners should investigate is the HOA board meeting minutes and reserve study. A condo’s board meeting minutes can show you areas of the buildings that need repair and will show you how equipped the HOA is in addressing pertinent issues. A condominium should also have a properly funded reserve account for major structural repairs. By viewing a HOA’s funding documents and minutes you will be informed of pending problems, litigations and funds.
Whether you are interested in purchasing a condominium or a house in Northeast Ohio, Integrity Home Evaluation Services is here to assist you with the inspection process. We can answer your questions and guide you on what issues need immediate attention. Call us today to learn more about our condominium inspection process. Interested in setting up a home inspection for your current or potential home? Contact Integrity Home Evaluation services today and learn why we are Northeast Ohio’s trusted rental inspector in Akron, Aurora, Brecksville, Cuyahoga Falls, Hudson, Medina, Solon, Streetsboro and Twinsburg.
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