Building inspections make up a $6 billion industry today, which speaks to the importance of this skillset and service. Inspecting a building is a prerequisite to finalizing any purchase or sale, or opening it for business. Building contractors will go through their checklist to make sure that the property is up to par and that there are no red flags.
What is a building inspection? What should you know about them?
In this building inspection guide below, we’ll answer these questions, along with debunking some myths about these inspections.
Myth #1 - A Building Inspection Accurately Predicts Future Problems
A building inspection is an official examination of a property, carried out by a certified professional, that verifies the safety, code compliance, and viability of a particular property. Homebuyers get property inspections to know that they’re buying a quality house. Commercial property owners need a certified inspection before they can open their doors and occupy their buildings.
With that said, these inspections don’t necessarily predict future problems. While they do catch certain red flags, building inspectors have a set scope that they stick to. You should get a separate inspection to assess potential future red flags.
Myth #2 - You Don’t Need an Inspection for a New Property
Many people also underestimate the importance of inspections, to the point of foregoing them if the property is new. Even if a building is brand new and in mint condition, it must still pass inspection.
You need to verify that it is up to code no matter how old the building is. Also, there’s no guarantee that a new building was built safely or correctly.
Myth #3 - You Can Handle the Inspection Yourself
Never try to handle your own property inspection. Even if you do some research, it pales in comparison to the knowledge of a credible professional.
Only certified professionals understand issues like the risk of termites and foundation problems. They also have certifications for mold, radon, and wood-destroying organisms. They also belong to organizations like the International Association of Certified Home Inspectors (InterNACHI), the Indoor Air Quality Association (IAQA), and the International Association of Certified Indoor Air Quality Consultants (IAC2).
Myth #4 - Appraisals and Building Inspections Are the Same
Appraisals and building inspections are two different projects. Because of this, you should hire different professionals to handle them. A building inspection checks for code issues, while an appraisal will let you know how much a property is worth.
An appraisal becomes necessary if you’re making a transaction and want an up-to-date look at its value and how much you can expect to earn.
Consider These Building Inspection Tips
Building inspections are part of doing business in real estate. Knowing the importance of these inspections and the right way to handle them will help you get the results that you need from any transaction.
Work with nothing but the best professionals when you need inspections or other services.
Central Florida Building Inspectors, Inc. can help you out with various residential and commercial inspections. Take time to contact us online if you have questions, or give us a call at (407)658-8267.