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When a buyer or a developer is interested in a residential property the lender will often require a comprehensive property inspection. The purpose of the inspection is to document the condition of the property, note whether any improvements have been made and the condition of any buildings on that property. In order to perform a property inspection there are several pieces of equipment that are needed.
The first will be a tape measure that will handle dimensions up to 100’. This could be a retracting tape measure or a laser tape, depending on the inspector’s preference. The next piece of equipment will be a builder’s level that will be used to verify any changes in elevation of the property. These levels are essential for inspecting slopes on hillside property, as well as establishing roof line heights for any city ordinance requirements. Whether or not these slopes or heights have been undisturbed for a time, it is necessary to document the existing conditions for any sale or transfer of a title.
The property inspection will begin by noting the size and configuration of the lot, or parcel. This is done on graph paper in order that hard copies of this original plot plan can be provided to all concerned parties. The next step is a comprehensive photo documentation of the property and buildings. The residential building may be a house, condominium, or apartment and the photo record will include all exterior and interior elevations and rooms. The purpose of the photos is to omit any disagreements as to conditions that may, or may not affect the sale of the property in some way.
The residential property inspection will also include an evaluation and photos of the mechanical and electrical building systems. The inspector must note the location were the electrical drop connects to the building panel riser, and the voltage of the electrical service. The air conditioning units and Plumbing fixtures must be photographed, and all specifics related to these systems have to be included in the inspection notes.
Once the on site inspection is completed the inspector will generate a formal report that describes the property inspection in detail. This report will be accompanied by the inspection notes, plot plan and photographs that were generated during the residential property inspection.
What else can I help you with?
Can you cancel a deal after a home inspection?
Yes. A home inspection is intended to provide the purchaser with a complete profile of a residential property at the time of the inspection. This profile is then used to either negotiate a better deal with the seller, or if larger, more expensive repairs to the home will be necessary, the buyer can back out of the deal.
What are the common issues that can arise with ceiling joists in a residential property?
Common issues that can arise with ceiling joists in a residential property include sagging, cracking, splitting, and inadequate support. These issues can lead to structural problems and compromise the integrity of the ceiling. Regular inspection and maintenance are important to address these issues promptly.
What has the author William L Ventolo written?
William L. Ventolo has written: 'Residential Construction' 'The complete home inspection kit' -- subject(s): House buying, Inspection, Dwellings 'The art of real estate appraisal' -- subject(s): Real property, Valuation 'The Home Inspection Kit'
When do you have to have a certified general appraisal?
A Certified General Appraiser is required if the property is a non-residential property or a residential property that exceeds four units.
Can residential property be levied to pay debt?
Yes residential property can be levied to pay back a debt. It is common for a bank to put a levy on a property.
Is commercial property worth more that residential?
It depends on a lot of things such as location and size of the property. However usually residential property is more expensive.
Gta inspectors?
Property inspection
Are Apartments a commercial property?
No residential.
Is a bed breakfast residential or commercial property?
A bed and breakfast should be considered commercial property. Residential property is classified as single home dwellings not for business use.
What r the implications 4 the property portfolio manager 2 consider with respect to a tenant's right 2 quiet enjoyment of the property when planning to conduct an inspection of a leased property?
Section 24 of the Residential Tenancies Act states the situations under which a landlord or their agent can enter the premises. The Act also restricts the frequency of general or periodic inspection to a maximum of 4 in any 12 month period. Agents have to give reasonable notice to tenants before showing the property to prospective buyers or planning an inspection of the leased property. The onus is on the agent to communicate with the tenant and manage each situation on a case by case basis.
What is effect to residential or commercial centers?
Commercial property outside the property line, impact the price of residential property, including proximity to schools, essential services and neighborhood amenities.
What is the Depreciation of a replacement air conditioning unit on rental property?
If the rental property is residential rental property, depreciate over 27.5 years. If this is non-residential rental property, depreciate over 39 years.
