Are you in the process of buying a commercial business space? If so, be aware that a commercial building inspection will be quite different than having a home inspected. The classification of the space largely affects how it is inspected and who does the inspection. Here are four things to be aware of when it comes to building inspections based on the classification:
Residential Property for Rent
The biggest thing you should be concerned about when buying a property to use for a residential rental is if the property is safe. As a landlord, you could be liable for any injury that happens within the property due to dangerous conditions. You will want to have a building inspection done to document the space, which will help prove down the road that you were not aware of dangerous living conditions if they do exist.
New Construction
Any new construction needs to be done with the latest building codes in mind. Not following the codes could lead to redoing expensive construction work to ensure that everything was done properly. Your city should arrange several building inspections throughout the entire construction process, and raise red flags about code violations if they come up.
Potential Environmental Hazards
Are you purchasing a property that has potentially hazardous material in it? This could be a gasoline or oil storage tank located underground. You will want to have these items inspected to ensure that nothing is wrong with them. If there is a problem with a building where it is causing an environmental hazard, you are responsible as the landlord to fix the problem. Get an inspection done before closing on the property, and be prepared to walk away if the repairs will be too expensive or simply not possible.
Vacant Industrial Space
Are you interested in an industrial space that has not been occupied in quite some time? It will be best to have the building inspected for potential problems that could have developed due to neglect. This includes malfunctions to the structure that could have easily been avoided by a landlord that was occupying and maintaining the building recently.
These are just a few types of inspections that may be necessary when looking at commercial real estate. To make sure you do not make a mistake when purchasing an expensive commercial property, reach out to a local real estate agent that specializes in these types of sales.
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