What is a Building Survey or Evaluation?

building EvaluationUnlike a land survey which simply determines the property lines and locates any survey pins or property markers and documents those locations, a building survey is a specialized report generated by an expert team containing a variety of specific information regarding the physical condition of a building. It is generally required for mid-size to large building purchases and projects.

A Typical Building Evaluation will include:

  • A map of the Vicinity or neighborhood with a map of the specific site
  • A detailed description of the property including all systems including HVAC, Electric, etc.
  • A review of local codes and building compliance
  • A detailed list of all items that need repair or replacement
  • A photographic record of  any required repairs
  • A detailed estimate of required costs to effect repair
  • Projected costs of capital expenditures over a multi-year period
  • Recommendations for improvements that will enhance the value of the property

Other Evaluations that Can be Added if Necessary:

  • Structral evaluations and risk related to earthquakes etc.
  • Elevator assessments
  • Replacement cost estimates
  • Handicapped Accessibility (ADA)
  • Government Record Research
  • Verification of Square Footage
  • Diagnostics of specific problems

Image courtesy of Matt Banks / FreeDigitalPhotos.net

About Tim McMahon

Work by editor and author, Tim McMahon, has been featured in Bloomberg, CBS News, Wall Street Journal, Christian Science Monitor, Forbes, Washington Post, Drudge Report, The Atlantic, Business Insider, American Thinker, Lew Rockwell, Huffington Post, Rolling Stone, Oakland Press, Free Republic, Education World, Realty Trac, Reason, Coin News, and Council for Economic Education. Connect with Tim on Google+

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