Strata Properties
Getting ready for your inspection
Note: Many inspection Companies claim: A Home Inspection is the most important decision you can make.
So... what level of professional due diligence do you want: a 1hr to 2.5hr turnaround inspection will cost you between $250 and $450. In my opinion and experience; a professional Condo inspection turnaround takes most of the day or longer and ranges from $600 to $800.
Read this story: http://www.canada.com/vancouversun/news/story.html?id=c5c44a5a-7470-4d93-80d5-7381c78665e0&k=28893&p=1
Obtain a minimum 8 yr. strata minutes (more is better), I appreciate your contract probably specifies two years, get your agent to "Put A Rush On It". You need these minutes! It's unfortunate your agent didn't have the foresight to get a broader historical reference. Also obtain any and all inspection reports (engineer's reports).
The Management Company or President of the Strata should have copies. You will need authorization from the seller to access their history.
Be prepared- the agents may try to charge you for this info. Info which you are entitled to review. You shouldn't have to pay for something that doesn't belong to you and which is public property. This argument goes back to the "Strata Council" who assumes this info is not really necessary. No body ever complains to the “Strata Council” about not getting it or having it readily available prior to listing a property; so:... nothing changes.
Between the two agents you are probably paying approx $8 - $12,000 commission Fee. It would be nice if your agent provided this service without complication or cost.
Unfortunately they aren't used to doing any running around and what you are asking for would seem extraordinary as no one ever asks for this stuff. In light of the current climate "LEAKY CONDOS" where special assessments for repairs range from $30,000 to 100,000+ I think you are not asking too much. Don't forget to say: "Please do whatever it takes to get those minutes and I do not want to hear of any charges. This is their cost of doing business.
You will need any info on: any & all envelope or other repairs, often I find the repair details are no more than bandage solutions to a pandemic problem.
Strata's often try to get by by doing option "B" or "C" repair as opposed to the optimal "A" option which is usually at least twice the cost.
“B or C” option repairs are often just forestalling strategies to the inevitable option “A” repair which will be born by any hangers on and new owners.
Get contractors names and scope of work done or proposed.
- When was the exterior last painted?
- Have there been any roofing repairs?
- Have there been any plumbing repairs?
- Have there been any window replacements?
- Have there been any problems with heating systems, including domestic hot water?
- Have there been any insurance claims- details!
Oh... yes there are all kinds of things to be watchful of.
Hope I'm not sounding too negative, You need this in order to make an informed decision. You must also appreciate an inspection is no guarantee. But it's a start.
- I will need access to any mechanical rooms,… well just about everything. Is there access to the top roof?
- Bring all documentation with you. (When you receive the minutes and engineer's reports read over them and flag all issues (sticky notes) there is simply too much paper for me to review on your behalf)
- You might want to bring a snack as the inspection generally takes four to six hours.
- Bring your camera and a notepad as well, there will be a multitude of minor details or questions you may wish to remember.
- I assume you will be attending the entire inspection- 9:30 on—
Don't be too concerned that some information is unavailable, I don't have x-ray eyes but I can tell quite a bit from my investigation.
Don't take no for an answer! The Strata Property Act clearly defines- all information pertaining to the building is public domain and you are entitled to review any and all available documentation. But everyone claims: “there are no problems with this building”... phooey, get that documentation before your subject removal clause runs out!!
Consolidated Strata Property Act
If you have any problems obtaining this info the "Real Estate Council" (http://www.recbc.ca/), Home Protection Office http://www.hpo.bc.ca/, BBB: http://www.bbbvan.org/, and Government B.C.- Office of the Conflict of Interest Commissioner- H.A.D Oliver, Q.C. , Honourable Colin Hansen, Minister of Finance and Minister responsible for the Real Estate Act. (http://www.dir.gov.bc.ca/) or http://www.dir.gov.bc.ca/gtds.cgi?show=Branch&organizationCode=OCI&organizationalUnitCode=OCI1 would be very interested.
You must request this info pronto! The sales community is not experienced with people who ask hard questions. Delay, Delay, Delay is a common tact.
My inspections are generally interesting and highly educational, the time just flies by. Bring all your questions and concerns.
Call or Email if you have any questions. 604-618-0499, theco@shaw.ca
T.H.E. inspection is a two day “Process”. One day to do a thorough inspection and one day to write your custom detailed report.
T.H.E. review will be at your location preference at a time which suits your schedule (after 5:00PM- following day)
In the meantime here is some more essential info: “Condominium Buyers’ Guide” http://www.cmhc-schl.gc.ca/en/bureho/buho/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=54585
Also: http://www.myleakycondo.com/
Note: get all claims in writing, e.g.: when they say they haven't had any problems with plumbing leaks, etc.- take notes and ask them to sign it.
***** Please read over my contract: http://bcipi.asttbc.org/SEC.03.10.20S.pdf you will be required to sign it on-site.
The contract does not prevent me from disclosing defects. It just limits what I'm responsible for. Your inspection is not compromised in the least.
Also Visit: www.myleakycondo.com educated buyers are responsible consumers; creating demand for better housing and professional services.
Don’t leave everything to the “So-called Experts” and whatever you do don’t delegate “Your Due Diligence” to someone else. They won’t be there for you if there are future repair costs.
