How a Commercial Real Estate Inspector Helps You Avoid Potential Problems

Protecting your interests in any commercial real estate transaction is essential. If you have not enlisted the services of a commercial real estate inspector to inspect the property you’re purchasing, you may not be doing your due diligence.

That’s because a seasoned commercial real estate inspector knows exactly where to look for those hidden problems that can crop up shortly after closing. This added layer of protection can help you avoid a lot of frustration and added expense.

Why Do You Need a Commercial Building Inspection?

A lot of commercial property buyers think it’s unnecessary to have a commercial building inspector come and inspect the property. After all, if the bank approved the mortgage, doesn’t that mean the building is in good shape? Unfortunately, this assumption can prove to be a critical error.

Keep in mind that appraisers and inspectors have completely separate responsibilities. While an appraiser assesses the value of a property, an inspector aims to identify problems. Ultimately, that means an appraisal is not a viable substitution for an inspection.

You may be getting a great deal on a commercial property with a nice chunk of equity already built in. But if the building has pre-existing, hidden problems that are costly to fix, the deal might not be as great as you thought.

Roofing, HVAC, plumbing, and structural concerns may abound — and you might not realize the extent of these issues until it’s too late. Discovering these issues before you make it to the closing table can eliminate major headaches and unnecessary expenditures. Around 70% of property owners responded that a property inspector helped them to avoid costly problems. In other words, you can’t afford to skip this step.

Making Informed Decisions

To make informed decisions, you have to have a full picture of what is going on with the building. Perhaps the commercial real estate inspector will find some problems that you decide are not large enough to stop the deal — or maybe the commercial real estate inspector will find bigger problems that may be too substantial to justify your purchase.

In either case, you’ll want as much information as possible about the property before it officially becomes yours. Of course, it doesn’t hurt to have the upper hand at the closing table. If you obtain a commercial property inspection before you close, it may be one of the best investments you ever make.