If you are buying an investment property, selling investment property, or perhaps looking to lease a property, the process can be as exhilarating as it is frustrating – often leaving you feeling intense excitement and extreme frustration at the same time.
Hiring a team of experts who have a full understanding of the real estate climate in your area is imperative to offset the potentially overwhelming task of navigating through the logistics, details and due diligence of a sale or lease. Besides hiring a competent and knowledgeable commercial real estate brokerage firm to represent you, one of the most essential members of your team of experts is a qualified and experienced commercial real estate inspector. Hiring the right inspector can turn a potentially dreadful situation into a successful and often-times worry-free transaction.
1) SAVE YOU FROM ISSUES DOWN THE LINE
A good inspector’s objective is to uncover issues that could present potential surprises or hazards. Providing an informative and educational assessment of the property will save you time and money and protect your investment for the long-haul. The assessment can also be a guide to consider any maintenance, alterations, renovations, or other projects moving forward. Letting your inspector know of any such plans or thoughts ahead of time will help your inspector highlight those pertinent points for you. Whether you have plans or not, it is essential to have a comprehensive assessment of the property’s present condition.
Knowing all the pertinent information regarding your property can give you the upper hand in negotiations.
Oftentimes a building will appear quite healthy on the surface and will even have municipal records to support that; but upon further inspection may reveal alterations made by unqualified persons, or by disqualifying methods. Many property owners attempt do-it-yourself projects or will hire a less-than-qualified individual to do work in an effort to save money. These efforts to save a buck are often more costly in the end and can create hidden hazards unbeknownst to potential buyers and tenants, and sometimes even the building owners themselves.
2) GET ALL THE RELEVANT INFORMATION
Another common finding in a property inspection is construction that has taken place without proper permitting and/or municipal inspections during the construction phase. This is especially common in more remote areas of the state. Hidden electrical boxes, abandoned live wires, over-cut framing members, and poor plumbing venting are just a few common finds. All of these present their own hazards, some obvious, some not so much, but with the use of specialty tools and equipment, as well as the knowledge of a qualified inspector, these issues can be identified and addressed. Hiring an experienced and equipped commercial property inspector rather than your typical home inspector is a must for your commercial properties. There is simply too great a disparity in training and experience to properly assess most commercial buildings.
3) GIVE YOU LEVERAGE IN NEGOTIATION PROCESS
One way of avoiding any surprises if you are selling a commercial property is to be pro-active by hiring an inspector prior to listing to stem some of the possible surprises and maintain control of the due-diligence process. Knowing all the pertinent information regarding your property can give you the upper hand in negotiations.
Montana does not yet have any formal oversight of the recently established Real Estate Inspection industry. So, in addition to assessing your investment property, it is also essential to vet a potential inspector. Is he or she certified by a nationally recognized agency rather than merely an affiliate? Is continuing education a part of their mandate for maintaining certification? What specialty tools or experts does the inspector have access to in able to perform a thorough assessment? Are they insured, experienced and qualified? What is their background? Did they come with a recommendation? Without formal regulation by the state, as with other industries and professions, you must ask the qualifying questions to ensure they meet the standards you require for your team of experts.
Whether it is a real estate transaction or a maintenance assessment of your own property; whether you are looking for a broad or narrow scope assessment (e.g. just the electrical system for insurance renewal), an inspection by a qualified, equipped, certified, and experienced inspector can save you money, time, and, of course, undue anxiety.
T&B House and Property has been inspecting home and commercial properties for nearly 18 years, starting in 2001. Master certified, experienced, and insured we utilize advanced tools to provide as thorough an assessment as possible for you including drones, IR thermography, IR moisture metering, radon and water testing, multiple inspectors, digital administration, a panoply of qualified experts and specialist consultants, etc. serving all throughout western Montana from border to Bozeman, and sometimes even beyond.
For your next commercial building inspection, give Tim a call or shoot him a text!
Tim (TC) Netzley
Inspector, Consultant, Instructor, and President
T&B House and Property, LLC
(406) 241-9464 | www.InspectMT.com