if you are buying an investment property, selling investment property, or perhaps looking to lease a property, the process can be as exhilarating as it is frustrating – often leaving you feeling intense excitement and extreme frustration at the same time.
1) SAVE YOU FROM ISSUES DOWN THE LINE
A good inspector’s objective is to uncover issues that could present potential surprises or hazards. Providing an informative and educational assessment of the property will save you time and money and protect your investment for the long-haul. The assessment can also be a guide to consider any maintenance, alterations, renovations, or other projects moving forward. Letting your inspector know of any such plans or thoughts ahead of time will help your inspector highlight those pertinent points for you. Whether you have plans or not, it is essential to have a comprehensive assessment of the property’s present condition.
2) GET ALL THE RELEVANT INFORMATION
Another common finding in a property inspection is construction that has taken place without proper permitting and/or municipal inspections during the construction phase. This is especially common in more remote areas of the state. Hidden electrical boxes, abandoned live wires, over-cut framing members, and poor plumbing venting are just a few common finds. All of these present their own hazards, some obvious, some not so much, but with the use of specialty tools and equipment, as well as the knowledge of a qualified inspector, these issues can be identified and addressed.
3) GIVE YOU LEVERAGE IN NEGOTIATION PROCESS
One way of avoiding any surprises if you are selling a commercial property is to be pro-active by hiring an inspector prior to listing to stem some of the possible surprises and maintain control of the due-diligence process. Knowing all the pertinent information regarding your property can give you the upper hand in negotiations.
Hiring a team of experts who have a full understanding of the real estate climate in your area is imperative to offset the potentially overwhelming task of navigating through the logistics, details and due diligence of a sale or lease. Besides hiring a competent and knowledgeable commercial real estate brokerage firm to represent you, one of the most essential members of your team of experts is a qualified and experienced commercial real estate inspector. Hiring the right inspector can turn a potentially dreadful situation into a successful and often-times worry-free transaction.