A major part of the commercial property buying process is having a survey conducted. This is a report carried out by a building surveyor that draws attention to any defects or defaults in a property.
Why Have A Commercial Property Valuation?
Commercial property valuations are undertaken for investors, lenders and occupiers. There are a number of reasons why someone would want a commercial property valuation undertaken.
These reports mention readily identifiable matters that significantly affect the valuation of the property. They involve superficial internal and external inspection and the preparation of a report. Reports are normally undertaken for lending institutions.
Three of the most common are:
- Reassurance that the price that is being paid for the property is fair and reasonable
- A commercial valuation is required by a lender if you are trying to arrange mortgage finance
- In the preparation of company accounts and in deceased estate matters