Author Box
Articles Categories
All Categories
Articles Resources

Commercial Property Inspection Tips

June 05, 2012 | Comments: 0 | Views: 154

When it comes to inspecting commercial property for sale or for lease, you should have a checklist to work through and capture all the relevant information for your listing. Every property will be unique and different, and because of this it is very easy to overlook situations and circumstances that can be highly important to the sale or lease process.

So here are some topics to start your checklist:

  1. Get some location information relative to the property currently. That would normally include title searches, maps, and survey plans. You can then position the property relative to the neighboring properties and the access roads.
  2. The survey plan for the property may be relatively old. When it comes to selling a property with an old survey, you sometimes need to get the boundaries re-established and defined by surveyors.
  3. If the property is of an industrial type, you may need to get soil reports so that you know there are no issues of contamination or environmental threat. In older industrial properties threat this can be an issue and delay or slow any sale activities. Whilst the owner may have some information regards previous tenancies, it is the usage of the property and how that has impacted the environment that can be of some concern. When in doubt, ask for specialist reports from experienced engineers and soil test people.
  4. The building and improvements on the property will have been placed relative to the building approvals and construction plans. If you can get copies of as built drawings, they will assist when it comes to matters of leasing and tenancy design.
  5. The property may be impacted by special notices and orders relative to occupancy and property use. Check the records at the local planning approvals office in case any of these orders and notices require satisfaction or action.
  6. Look for issues that impact the titles such as rights of way, easements, and encumbrances. Normally they will be noted on the relative title for the property. It pays to get a copy of the title before any actions are implemented on the property.
  7. All of the improvements on the property should have appropriate building approvals. Ask questions of the client or property owner to ensure that this is the case. When in doubt, visit the building approvals board or office.
  8. The services and amenities within the property will be of interest to property purchasers, or tenants as the case may be. The as build drawings referred to earlier will be very useful in providing this information. Any alterations to the building should also be supported by new plans and drawings. Any tenancy changes or fitout plans may be of interest to the potential purchasers for the property.
  9. The essential services within a building such as fire prevention devices, air conditioning, plumbing, water supply, and drainage will all be delineated on the as built drawings. The location of these services will be of interest to any new tenancies moving into the building as they consider their fitout designs.

There are significant differences between the complexities of industrial, office, and retail buildings. Over time you can understand more factors to look for and document as part of listing the property for sale or for lease.

If you want some more tips and ideas to help your commercial real estate agency and convert more opportunity into listings and commissions, you can get a free ebook of tips and tools at http://www.commercial-realestate-training.com

John Highman is an experienced Commercial Real Estate Agent, International Speaker, and Sales Coach.

Source: EzineArticles
Was this Helpful ?

 
0
 
0
 
Rate this Article
 vote(s)
Feedback
Print
Re-Publish

Article Tags:

Commercial Property Inspection

,

Property Inspection Tips

,

Inspecting Commercial Property

The documents are inevitable to assess your age, income, employment and residence. For the loan to be petitioned from the bank, you need the right procedure of application.The documents are

By: Simon Liva l Real Estate > Buying l November 20, 2012 lViews: 258

The main reason why people tend to be apprehensive about moving homes is that it entails packing everything in the home, transporting it and then unpacking it in the new home. The entire process of

By: Ringo Star l Real Estate > Moving Relocating l October 27, 2012 lViews: 211

There are a number of benefits to owning a second home. Buying to let is a long term investment. The property will usually accumulate value over time and also can generate rent on a shorter term

By: Alan Trotter l Real Estate > Investing in Real Estate l October 19, 2012 lViews: 241

Building a home, especially your first one, can be an incredibly daunting task - there are a number of factors, including budget and planning, that must be taken into account before any sort of

By: John K. Taylor l Real Estate > Building a Home l July 10, 2012 lViews: 333

When you're ready to sell your house, the first thing you'll probably do is find a real estate agent to help you through the process. It can be so inviting to seek out the discount Realtors who offer

By: W Josh Anderson l Real Estate > Selling l July 10, 2012 lViews: 263

You see the signs everywhere, especially in a strong economy: For Sale By Owner. For some reason, many people believe they'll do a better job of selling their homes without the assistance of a real

By: W Josh Anderson l Real Estate > Selling l July 10, 2012 lViews: 241

This property market is changing quickly and in many different ways. Keep on top of the current issues with good market intelligence and information. In this way you can tap into the opportunities

By: John Highmanl Real Estate > Commercial Propertyl June 06, 2012 lViews: 160

Are you aware that there are practically hundreds of thousands, if not millions of properties throughout the Western world that have been foreclosed on in the last year alone? Many of these

By: Steve Hilll Real Estate > Commercial Propertyl June 03, 2012 lViews: 215

Before you think about investing in any commercial property, carefully survey the market and pick the right kind of property for your needs. If you choose real estate randomly, you could lose some

By: Steve Hilll Real Estate > Commercial Propertyl June 03, 2012 lViews: 195

The Philippines is full of potential employees and great business opportunities. You need to find a good location for your business if you want to make the most of these merits. This article will

By: Debra Crowl Real Estate > Commercial Propertyl May 31, 2012 lViews: 207

When it comes to a slower property market, you need some solid goals and targets to take you forward and focus your efforts. Here are some strategies used by commercial real estate teams today.

By: John Highmanl Real Estate > Commercial Propertyl May 30, 2012 lViews: 163

The well-worn pages on lease-verses-buy in business textbooks makes much of a meal of equipment and motor vehicles but leaves glaringly absent the application to real estate. Perhaps the omission is

By: Matthew Campaigne-Scottl Real Estate > Commercial Propertyl May 28, 2012 lViews: 163

In this tougher property market, agents working on commercial property need a good marketing plan to help them tap into the right people at the right time. Property owners and business owners all

By: John Highmanl Real Estate > Marketingl June 06, 2012 lViews: 176

This property market is changing quickly and in many different ways. Keep on top of the current issues with good market intelligence and information. In this way you can tap into the opportunities

By: John Highmanl Real Estate > Commercial Propertyl June 06, 2012 lViews: 160

When it comes to a slower property market, you need some solid goals and targets to take you forward and focus your efforts. Here are some strategies used by commercial real estate teams today.

By: John Highmanl Real Estate > Commercial Propertyl May 30, 2012 lViews: 163

As an agent, if you don't get the inspection process under control you can overlook key issues and problems in the property. These problems can come back to haunt you when negotiations start and get

By: John Highmanl Real Estate > Agents Realtorsl April 24, 2012 lViews: 183

Negotiation is perhaps the most important skill an Agent should have after prospecting and cold calling. Good negotiation takes practice, knowledge, and sound communication skills. Here are some

By: John Highmanl Real Estate > Agents Realtorsl April 24, 2012 lViews: 182

When you act as the local commercial real estate specialist, the contacts and network that you bring to your clients is really important in every listing. Look for contacts and referrals in every

By: John Highmanl Real Estate > Marketingl April 24, 2012 lViews: 115

Discuss this Article

comments powered by Disqus