Commercial properties such as manufacturing and packaging plants, warehouse storage facilities, office buildings, parking lots, etc., must be checked, inspected, and verified in every relevant manner, before going through with a purchase decision. Depending on what kind of property is being bought, the final checklist will vary. Nevertheless, there are some constants which must be checked and verified before buying any commercial property. As we go through them next, their relevance and importance will start to make more sense.
Structural Integrity and Safety
As long as it is a physical structure that is being bought, getting it checked for structural integrity should be the number one priority. Older buildings need to be checked more thoroughly than more recent constructions, but never make the mistake of believing that just because it’s a new building, its integrity cannot be compromised. To have the potential purchase checked against water supply and drainage problems, construction defects, foundational defects, and post-construction damages, consult with an experienced civil engineering services firm.
Fire Code Compliance
The structure may or may not be completely in compliance with every new fire code, even though that should not be the situation. Compliance with the federal and local fire codes, as would be applicable on the concerned commercial building is not optional. Getting it checked against fire code violations is a necessary step to ensure both safety and legality.
The same firm providing the buyer with all essential civil engineering services should also be quite familiar with applicable fire codes. Remember that staying compliant with all applicable fire codes is a very extensive and integrative process which involves almost everything from building design to electrical wiring.
Electrical Wiring Inspection
External outlets and switches are not nearly as important as the building’s original electrical circuit planning. Consult with certified local electricians, so that they can check everything electrical inside and outside the building for issues. Older buildings in particular, have terrible in-the-wall electrical wiring, so the buyer must get their building(s) of interest checked against electrical and fire hazards. New buildings are far less likely to have very complicated issues, but that’s not an impossibility either.
Other Checks and Inspections
In addition to these three, the place must also be inspected and checked against:
- Property, ownership, and identity disputes
- Environmental disputes
- Pest infestations (rats, termites, etc.)
- Plumbing, water supply, and drainage issues
- Presence of toxic substances such as asbestos, lead, and/or mold
The same inspections should ideally be conducted by the seller as well because there are laws against selling a legally noncompliant structure to any party, whether it’s a commercial or residential property. However, if the potential buyer is informed about all identified problems in advance and the buyer agrees to make the necessary changes/repairs themselves, the deal can still go through.
In that case, the buyer will ask to buy it at a lower price, so that they are compensated for taking on the additional expenses. In fact, a big reason behind performing all the checks is to make sure that the buyer doesn’t end up spending more money on repairs and renovations than they might be expecting.