When you are purchasing a commercial property, there are many stages involved with various deadlines that will be outlined on the contract to purchase. One of these deadlines is referred to as the “due diligence period”. It is a period of time when you are entitled to inspect the property from top to bottom and employ as many professionals to do so as you wish. Clearly it wouldn’t be cost-effective to hire a multitude of companies, so working with one that handles everything is your best bet.
Not only should you be sure you don’t miss the window of opportunity for commercial inspections, but you should also consider getting them done as soon as you can. This will allow the seller time to make any necessary repairs and give you time to negotiate without delaying the closing. You would also have time to get a detailed estimate to resolve the problem so you have the tools you need to negotiate.
If it turns out the property is unsuitable for your needs, it gives you more time to seek out one that will work out better for your company. Another reason to schedule commercial inspections early is to avoid spending money on other phases until you are certain the property is viable. You could save yourself the cost of an appraisal, for example.
If you have questions about commercial inspections or would like to schedule one for as soon as possible, reach out to us at Towne & Country Property Inspections. We understand the time constraints and will get the report in your hands before you know it. We serve the Chesapeake, Virginia area as an experienced inspection company for both residential and commercial properties. We assure you that we will leave no stones unturned so you don’t get any unexpected surprises after closing. Contact us today to learn more.