If you have recently found a piece of commercial property that you fell in love with it's tempting to be in a hurry to own it. The place might look so good that you can't imagine passing up on it and if the property is located in a hot real estate market you probably want to get your hands on it before someone else has the chance to do so. However, you have to be very careful when purchasing commercial property and in order to make sure you're getting a sound investment it's best to hire an architectural property condition assessment service.
Lender-Sponsored Inspections Might Not Be Thorough Enough
Many lenders require an inspection before they will extend the funds you need to buy any property. This requirement is made so that major problems can hopefully be uncovered before you end up with a "lemon" of a building that you can't do much with. Although the inspection is usually ordered to be carried out by a professional service you must be prepared to go beyond this basic starting point if you want to protect your investment.
An architectural property condition assessment service is staffed by trained experts who know how to test the various systems in a building to make sure that they are sound. Far beyond simply checking the roof, plumbing network and electrical systems, these seasoned professionals do assessments that include seismic risk factors, wall cladding, structural integrity and so much more. Potential hazards that might be completely missed by the traditional inspectors could be quickly uncovered by an architectural assessment expert and this is the kind of protection you need before laying out the cash for such a large purchase.
City Plans Are Very Important
Most major cities have a Department of Urban Planning and Development. These teams are usually headed by a city manager who decides which direction the town will go in during the upcoming years. If you want to ensure you're buying a building that won't end up being worth less than what you're paying for in later days, it's a good idea to read over the city plans before purchasing a commercial building. Decide what you will use the commercial space for and see if it lines up with the overall direction of the community.
Owning the right piece of commercial property is more than worth any leg work you have to put in to obtain it. Do the research and follow these steps so you'll always be pleased with your investment.
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