Many first-time business owners will go through a building, find everything they ever dreamed of, forgo an inspector to speed up the purchase and enter into a new business agreement. The only thing is, home buyers can end up falling into buyers’ remorse after finding issues they didn’t immediately see. This is often the case when investors skip the crucial step of hiring a commercial inspector.
New business owners may not realize they should hire an inspector, others may simply not understand why they should have someone inspect their potential business foundation. Here’s what you should know:
Inspectors can make or break a real estate purchase
Inspectors enter homes looking to detect any issues before someone commits to their purchase. While real estate sellers may include known issues with a building, some may try and hide bigger issues that may hurt their selling price. A well-trained inspector may notice:
- Cracked and unstable foundations
- Loose and outdated windows
- Exposed roofs
- Leaks
- Rotted wood
- Rat droppings
- Live wires
- Heating and cooling issues
If one or two of these issues are found, then buyers may try to bargain for better prices on real estate to make future repairs. Buyers, however, may be hesitant on a purchase when one too many boxes are checked that may indicate a building is a fixer-upper.
Many buildings with water issues may be breeding grounds for mold, which could condemn a foundation as unsafe. While older buildings may have lead in the walls and pipes or were built with asbestos – causing contamination to the water supply and creating airborne illnesses. Problems such as these could make it dangerous to consider establishing a business.
If you’re looking to purchase real estate and want to take every step to protect your business, then you may need to reach out to legal counsel that may provide you with more options.