Building Condition Assessment near Newnan, Georgia
A Building Condition Assessment, also known as a Property Condition Report or Commercial Building Inspection, is a thorough examination of a commercial real estate asset that encompasses all upgrades and systems in each of the property’s buildings. It’s frequently requested as part of the due diligence process for a commercial real estate purchase. Building Condition Assessment can assist lenders and buyers in determining how the property’s condition and site renovations will affect the asset’s financial performance. Call us today to learn more about a building condition assessment near Newnan, GA.
As soon as the loan application is received, the lender or buyer may be responsible for commissioning a Building Condition Assessment with an approved provider. The Building Condition Assessment provider must next determine who has the most knowledge of the property and send them a pre-inspection survey. This survey will ask questions such as the age of the roof, the age of the windows, whether there is aluminum wiring or galvanized tubing, and so on to gather as much information as possible before a site visit. Stop by our office in Atlanta, GA to learn more about a building condition assessment near Newnan, Georgia.
Do I Need A Building Condition Assessment?
Before final approval on a commercial property loan, most banks will require a Building Condition Assessment. The evaluation provides both the bank and the owner with useful information regarding the expected cost of ownership, and it may serve as a starting point for future purchase price negotiations. The loan may not be granted, or the buyer may voluntarily back out if the Building Condition Assessment finds serious concerns. For over 30 years, AKT Peerless has provided Building Condition Assessments. We’d be delighted to collaborate with you on your next project.