Before investing in a commercial property, it’s important to arrange for a commercial property inspection. Arranging to inspect a commercial property helps to determine the true condition of the property and how much any repairs may cost. The property inspection can be a small investment to protect you from buying a property with hidden problems.
What the Commercial Property Inspection Includes
The commercial property inspection includes checking the main features of the commercial property. These include:
The property’s exterior
A building inspector will look at all exterior parts of the property. This includes the roof, structure of the building, the parking facilities, and landscaping. The inspection checks that property is structurally sound and works out the cost of any necessary repairs. The building inspector should be familiar with local laws and building codes.
The interior of the property
All areas of the interior including restrooms, kitchen facilities, offices, walls, and ceilings are checked during the inspection. The building inspector can advise on any renovations that are needing to be done and the approximate cost of these.
Electrical, heating, and ventilation systems
An important aspect of the building inspection is to make sure that the electrical, heating, plumbing, air conditioning, ventilation, and mechanical systems are working properly and meet current building standards.
Along with checking the working condition of the building’s systems, the inspector will evaluate the fire safety and security alarm system.
How a Commercial Property Inspection Saves Money
Real estate purchases are investments that are expensive and can become costly if there are unforeseen repairs and renovations to make. Without knowing the true condition of the property, you could see your return on investment greatly reduced.
Commercial property inspections can also save you money when it comes to negotiating the final purchase cost. Remember, that the property inspector works on behalf of you and will provide you with a list of necessary and suggested repairs along with the cost. This can help you negotiate a lower price to purchase the commercial property.
