What does a pre-acquisition survey involve?
If you are considering buying or investing in a commercial property, a pre-acquisition survey is essential to getting important information on its true condition.
It will give you a thorough and technically robust understanding of your obligations and commitments – not to mention peace of mind.
A professionally conducted building survey involves an in-depth and highly accurate analysis of the condition, risks and liabilities linked to the property. It is a key element of the due diligence process that will enable you to make a fully-informed decision.
The main benefits
Information is a key advantage in any property negotiation and obtaining a precise and professionally reliable survey gives a potential buyer comprehensive intelligence on the state of a building – not just now, but also going forward.
Having this information, means you are in a strong position from the outset to negotiate a more beneficial deal. Moreover, a pre-acquisition survey enables you to implement a long-term strategy to reduce any liabilities if you want to sell the building in the future.
Another key advantage is that the survey will provide estimates on building lifecycle costs, as well as advice on planned refurbishment or repair obligations.
Added value going forwards
The survey will also identify potential problems further down the line that a buyer should know about before deciding to purchase or invest in commercial property.
These include statutory compliance issues along with advice on any technical tests that may need to be undertaken, such as asbestos, deleterious materials and land contamination issues.
By obtaining as much knowledge as you can about a property and understanding the future implications of a potential purchase, you can be assured that your investment will be more secure.
This answer is a guide only. To find out more about the benefits of a pre-acquisition survey, get in touch with our team of expert surveyors.