What Does An Inspection Include?
A complete inspection includes a visual examination of the building from top to bottom. The inspector evaluates and reports the condition of the structure, roof, foundation, drainage, plumbing, heating system, central air-conditioning system, visible insulation, walls, windows, and doors. Only those items that are visible and accessible by normal means are included in the report.
When Do I Request An Inspector?
The best time to consult the inspector is right after you’ve made an offer on your new building. The real estate contract usually allows for a grace period to inspect the building. Ask your professional agent to include this inspection clause in the contract, making your purchase obligation contingent upon the findings of a professional inspection.
Can a Building “FAIL” The Inspection?
No. A professional inspection is simply an examination into the current condition of your prospective real estate purchase. It is not an appraisal or a Municipal Code inspection. An inspector, therefore, will not pass or fail a building, but will simply describe its condition and indicate which items will be in need of minor or major repairs or replacement.
What If The Report Reveals Problems?
If the inspector finds problems in a building, it does not necessarily mean you shouldn’t buy it, only that you will know in advance what type of repairs to anticipate. A seller may be willing to make repairs because of significant problems discovered by the inspector. If your budget is tight, or if you do not wish to become involved in future repair work, you may decide that this is not the property for you. The choice is yours.
If The Report Is Favorable, Did I Really Need An Inspection?
Definitely! Now you can complete your purchase with peace of mind about the condition of the property and its equipment and systems. You may have learned a few things about your property from the inspection report, and will want to keep that information for your future reference. Above all, you can rest assured that you are making a well-informed purchase decision and that you will be able to enjoy or occupy your new home or building the way you want.
Why Do I Need An Inspection?
The purchase of a home or commercial building is one of the largest single investments you will ever make. You should know exactly what to expect --- both indoors and out -- in terms of needed and future repairs and maintenance. A fresh coat of paint could be hiding serious structural problems. Stains on the ceiling may indicate a chronic roof leakage problem or may be simply the result of a single incident. The inspector interprets these and other clues, and then presents a professional opinion as to the condition of the property so you can avoid unpleasant surprises afterward. Of course, an inspection will also point out the positive aspects of a building, as well as the type of maintenance needed to keep it in good shape. After the inspection, you will have a much better understanding of the property you are about to purchase, and be able to make your decision confidently.
As a seller, if you have owned your building for a period of time, an inspection can identify potential problems in the sale of your building and can recommend preventive measures which might avoid future expensive repairs.
Can I Inspect the Building Myself?
Even the most experienced building or home owner lacks the knowledge and expertise of a professional inspector who has inspected hundreds, and perhaps thousands of homes and buildings in their career. An inspector is equally familiar with the critical elements of construction and with the proper installation, maintenance and inter-relationships of these elements. Above all, most buyers find it difficult to remain completely objective and unemotional about the building they really want, and this may lead to a poor assessment.
Should I Attend The Inspection?
It is not necessary for you to be present for the inspection, but it is a good idea. By following the inspector through the inspection, observing and asking questions, you will learn about the new building and get some tips on general maintenance…information that will be of great help to you after you’ve moved in.
What is the difference between a Commercial Real Estate Inspection and a Home Inspection?
To answer this question it's best to look at why the deal is being done in the first place.
A home purchase deals to a large degree on emotion. Things like, "I love the house", "what a beautiful kitchen", "great backyard" and on and on. People usually buy homes because they really love something about the home or the location.
Commercial Real Estate purchases deal in money. The basic question is "How much?" How much can I make on this investment? This is what the commercial real estate buyer is looking at: the bottom line. How much will it cost to install the new heating and AC system it needs, the new roof, how much can I make on the new rents? And on and on.
With commercial real estate inspections we are usually looking at what is going to have to be done in the next five years. Does the roof look like it will last at least five more years with normal maintenance? Can the heating system get by? Does the electrical need to be upgraded due to the change in use of the building? Those sorts of questions are the usual focus. This is always tempered with consulting the buyer to find out what it is they are looking for and what their particular concerns are.
We are constantly looking at a home from a performance standpoint. Does the water get hot in the bathroom in a reasonable amount of time? Will you get scalded when the toilet is flushed if you are in the shower? Do the windows open properly, do you have enough plugs, and on and on with a home.
With a commercial real estate inspection we are looking at life spans of the five major systems: electrical, plumbing, heating and AC, roofing and structure. The focus of a commercial inspection is usually much more on the major systems than the interior cosmetic issues. If the carpet is a bit worn in a commercial inspection we will note it but the buyer usually does not really care. He wants to know What do I have to spend money on now or in the near future on this place?
With commercial inspections we stress the industry standards for life expectancies. These can vary greatly depending on the system and the quality of the original construction but generally speaking the industry standards for electrical systems is if it is approx 50 years old or older it is time to upgrade it, plumbing is approx. 40-60 years depending on many variables, commercial roofing is usually a flat roof and these for the most part are approx. 10-15 years. Heating and AC systems that are roof mounted are approx. 15-17 years of expected life. The structure is the biggest variable. These can last from 70-100+ years depending on many things.
The cost of a residential inspection starts at $325.00 for a home. The usual price for commercial real estate inspections currently is approx. 10 cents per sq. ft. When the sites get very large or there are numerous complexities the prices will vary. If the buyer has some particular issues that need more detailed inspections, such as Heating and AC or structural or electrical we will have specialists at the inspection. These costs will be added to the overall cost and time it will take to complete the inspection. You should deal only with qualified professionals who have many years in the construction trades as general contractors and thousands of inspections under their belt.
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