Facility condition assessments for commercial properties are similar to but far more comprehensive than home inspections. Home inspections are done for the buyer’s benefit so that he or she knows the problems associated with a specific property and can use this information to negotiate repairs, replacements, or cost reductions. They are usually recommended for any real estate transaction, they are done by trained professionals, and they basically answer: “What problems exists that I do not know?” This process minimizes risk for the buyer.
For potential commercial transactions of existing properties a Phase 1 Environmental Site Assessment is usually done. This assessment examines public records for a past use which may indicate potential environment hazards, such as underground storage tanks or on-site industrial processes. A facility condition assessment complements Phase 1 studies. The knowledge of what is below ground and above ground combine to provide a comprehensive look at the problems of existing properties. Prospective owners can deal with these problems immediately and reduce their risk of ownership.
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Posted by: writers job | September 19, 2011 at 06:41 AM