Importance of a Commercial Property Inspection
“Look Under the Hood”
One of the most important things to have, when representing a buyer in the purchase of real estate, is a commercial property inspection. This should be done by a qualified property inspector. Having this type of inspection ensures that the buyer has “looked under the hood” and knows exactly what they are getting. What can appear to be a good purchase can sometimes quickly turn into a money pit with multiple unseen issues that the buyer would be inheriting.
A list of the items to be checked during a commercial property inspection:
- Structural issues
- Mold (WDO Inspection)
- Environmental Contamination
- Hazardous Materials (lead paint, asbestos)
- Proper Insulation
- Fire/Life Safety Issues
- ADA compliance issues
- Foundation issues
Use a Specialist for your Commercial Property Inspection
If possible, it is best to have a good inspector who is well versed in all facets of construction perform a complete inspection of the property. That way, if areas of concern are noted in this initial inspection, a specialist can be brought in to further evaluate. This will give the buyer an idea of the repair or replacement cost of the issue in question. At this point in the sales process, the buyer can ask for the item to be fixed or negotiate a reduction in price or credit at closing to cover this known expense (this is usually the best route to take, it ensures that a contractor of the buyer’s choice does the work to their expectations). As you can see, property inspections are a very important part of the buying process and save money in the long run.
About Preston Hall – Preston has completed 130 transactions in the past 6 years in commercial real estate using his client focused service. He specializes in office, retail, and multi-family properties in the Tallahassee, Florida area. Click here to read his full bio, or if you would like to contact him, you can call him at 850-877-6000 or email him at [email protected]