A condominium (or “condo”) is a privately owned dwelling unit within a community of other units. The homeowner usually owns the interior of their condo and the structural components of the exterior walls. The homeowner jointly owns shared common areas within the community, such as roofs, garages, elevators, and outside hallways. A homeowners association typically manages the common areas.
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I do neither of these. The last thing I want to do is be responsible for the by-laws or insurability. Define your scope. For example, hi-rise condo could be the interior of the unit only. Exclude common areas etc. On townhomes, I do all of it to include the party wall. I will let the client and the realtor sort out what is the buyers responsibilities.
The insurance company will have their own in-house guidelines on those details, best just to treat it like any other inspection. Half the time no one has any idea until the underwriter asks for it weeks later.
If the client didn’t initially order those insurance reports, I collect the required photos & data anyway to process them later if necessary.
