Is an inspection necessary for a 500 sq. ft. condo?

[Hen Ley]

Looking to purchase a condo purchased in the 70's- The seller would like a quick close and I'm looking for ways to facilitate that. Is an inspection necessary for a small, 500 sq. ft. condo?

[Jake Alger]

The Real Estate professional/agent in me says, yes, always do an inspection.  That obviously depends on your level of willingness to deal with problems should they arise.

For a 500 sq ft condo, there's only so many issues that can arise, but they can arise.  Perhaps write up an offer and do a 1 or 2 day inspection.  Get it scheduled before even writing the offer.  

The typical hold up with closing timelines comes from the financing aspect, not the inspection.  Typically bank underwriting and the appraisal, depending on where the property is and how busy they are, is what can take a while.  Being pre-qualified and personally underwritten (should your lender offer this), speeds up the process tremendously.  I have lenders who can close in as little as 2 weeks given the borrower is already underwritten.

Hope this helps?