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Updated almost 10 years ago,
Question regarding property inspection
Hi. I have a question regarding city inspection. Where I live, the city must approve a certificate of occupancy in order for an investor to rent their property. My question is, if I'm looking to purchase a property that is in generally good shape, what is the best way to know which items the city will require to be fixed?
These inspections by the city can be over $400 and I'm not even sure the city will allow their inspectors to come into the house while it's under contract (vs me already owning it). But i need this information to be able to make any modifications to the purchase price based on inspection clause.
I know of landlords who had to invest many thousands of dollars to bring it to a level the city would approve - in some cases they force modern upgrades on homes that met inspection 20 or 30 years ago but not now. Do private inspectors have enough knowledge to point out which are required by the city and which are more for general improvement? Anyone have experience with this? Thanks in advance.