Commercial inspections are esoteric in nature. The best commercial property inspectors have completed specialised courses to ensure they are able to carry out these inspections to the best of their ability and to their clients requirements. They are not simply "Like houses, but bigger!".
If you are thinking of purchasing a commercial property, it makes sense to have it inspected by a qualified professional for several reasons;
1) An official, independent report might be required by the bank for lending / remortgage purposes.
2) Evaluating the condition, age and life expectancy of a buildings systems is going to be crucial in evaluating profit margins and replacement costs.
3) The report can identify deficiencies even the sellers were not aware of. Renegotiations can often be held on favourable terms to the buyer.
4) If being bought through a company the Inspection fee can usually be written off as a business expense. (Check with your accountant!)
5) It shows the buyer you are serious and are coming prepared. Most commercial property owners will respect buyers exercising their due diligence.
The criteria of what constitutes a Commercial property varies from lender to lender. Some will consider a 4 apartment property outside of residential lending, for others the criteria only starts at 6 apartments and above. At Cook Property Inspections we offer inspections to suit all needs.
Warehouses, Factories, Retail stores, Office buildings, Restaurants, Churches, Gas Stations and Multi -Apartment buildings. We have inspected them all!
We are experienced in all sizes and types of properties. We can offer Inspections to C.C.P.I.A , ASTM Standard E2018-15 or apply custom standards of practice of inspecting to a property. It depends on the usage, requirements of the potential buyer and if lending criteria applies.
For the London and surrounding area, I strongly recommended you contact Cook Property Inspections before purchasing a commercial building. There is always something that comes to light during the inspection.
It is estimated that of all litigation related to building ownership and construction, roofing problems make up 60%-80%. Will you be happy with the sellers opinion of how long that roof will last?
"Know what you own, and know why you own it." - Peter Lynch
If you are thinking of purchasing a commercial property, it makes sense to have it inspected by a qualified professional for several reasons;
1) An official, independent report might be required by the bank for lending / remortgage purposes.
2) Evaluating the condition, age and life expectancy of a buildings systems is going to be crucial in evaluating profit margins and replacement costs.
3) The report can identify deficiencies even the sellers were not aware of. Renegotiations can often be held on favourable terms to the buyer.
4) If being bought through a company the Inspection fee can usually be written off as a business expense. (Check with your accountant!)
5) It shows the buyer you are serious and are coming prepared. Most commercial property owners will respect buyers exercising their due diligence.
The criteria of what constitutes a Commercial property varies from lender to lender. Some will consider a 4 apartment property outside of residential lending, for others the criteria only starts at 6 apartments and above. At Cook Property Inspections we offer inspections to suit all needs.
Warehouses, Factories, Retail stores, Office buildings, Restaurants, Churches, Gas Stations and Multi -Apartment buildings. We have inspected them all!
We are experienced in all sizes and types of properties. We can offer Inspections to C.C.P.I.A , ASTM Standard E2018-15 or apply custom standards of practice of inspecting to a property. It depends on the usage, requirements of the potential buyer and if lending criteria applies.
For the London and surrounding area, I strongly recommended you contact Cook Property Inspections before purchasing a commercial building. There is always something that comes to light during the inspection.
It is estimated that of all litigation related to building ownership and construction, roofing problems make up 60%-80%. Will you be happy with the sellers opinion of how long that roof will last?
"Know what you own, and know why you own it." - Peter Lynch
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