THE SKINNY ON COMMERCIAL INSPECTIONS
To inspect or not to inspect. That is often the question when considering the acquisition of a new commercial property. In reality, there are a number of ways to go, each with their own pros and cons depending on your circumstances. Here are the top five inspection scenarios that play out for commercial properties. 1. Phase 1 Environmental Site Assessment Phase 1 inspections mostly consist of records-based research in public files to determine previous usages of the land and whether they indicate possible toxic conditions. Normally, you get a Phase 1 assessment when a lender requires it for the purchase of a commercial property, or an oversight agency requires it. 2. Phase 2 Environmental Site Assessment Phase 2, just like it sounds, happens after Phase 1, if required, depending on the results of the first test. Samples are taken from soil, groundwater, and building materials on-site and analyzed for signs of contamination. It’s worth noting that both Phase 1 and Phase 2 assessments must be performed by a certified environmental professional. 3. General Commercial Inspection This is a great option when you don’t need or want a Phase 1 but still want to know what you’re getting into. Your certified commercial inspector will visually assess the WHAT YOU NEED TO KNOW
entire structure, giving you the big picture on upcoming maintenance, defects, or potential safety hazards, along with other points to negotiate with the seller.
4. Unofficial Consulting If you have a trusted contractor on your team or one you work with closely, they can be a helpful second set of eyes. They can give you a free opinion within the scope of their knowledge and expertise, and provide you with cost estimates for any work needed. 5. No Inspection Sometimes you may opt for no inspection at all. If you know the property is in great shape and you don’t need an inspection to gain lender approval — such as in a cash deal — you might save money by skipping the inspection. And structures like large open warehouses often don’t need inspections because there’s not much to inspect in the first place. But it always pays to do your research to ensure you don’t end up with a lemon.
If you’re in need of an experienced inspection team for a potential acquisition, call the experts at Liberty Inspection Group at 610.717.3082 today!
SUMMER GRILLED HALIBUT
INGREDIENTS
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4 boneless, skinless halibut fillets, about 5 ounces each 1/4 cup olive oil, plus extra for drizzling
• • • •
2 pounds mixed tomatoes, sliced 1/2 cup hearts of palm, drained
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Basil leaves, for garnish
Ingredients:
Kosher salt and black pepper, to taste
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1 lemon
DIRECTIONS
4. In a mixing bowl, combine
1. Lightly oil grill grates and heat grill to medium. 2. Grate 1 teaspoon lemon zest onto halibut fillets. Drizzle with olive oil and season with salt and pepper. 3. Grill halibut, turning just once, for about 5 minutes on each side.
tomatoes, hearts of palm, juice from lemon, and oil. Season with salt and pepper. 5. Garnish salad with basil. Spoon salad over grilled halibut. Serve.
Directions:
Inspired by Bon Appetit magazine
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