Forum Archive: Posts by: indynycems

We are first time buyers. Just wondering what the process is after you get your inspection report. The inspector does not include any kind of cost to repair estimates in his report, does he? If there are major issues (heating systems, plumbing, electric, etc) which are problematic, how do you get an idea what they will realistically cost to fix? Do you have to get a contractor in at that point? I would appreciate any and all advice!

We are first time buyers, getting advice from parents who have alot of experience buying/selling properties, but not in NYC. We have been told we should ask for a disclosure statement from the sellers stating all the problems and repairs done to the property. Our broker told us that most old houses (the property in question is a 2 fam brownstone in ridgewood) are generally “as is” and do not release or fill out this statement. We live in a very similar (nearly identical) house as the one we are looking to purchase so we are familiar with the potential problems and associated costs-electricity, heating, plumbing etc. Will most of things be revealed in a good inspection? Should we not worry about this disclosure statement?