Wednesday, October 7, 2015

The Relevance Of An Existing Conditions Survey

By Sharon Weeks


The promising market on real estate properties is expected to treble in the next few years. Given this auspicious prognosis, investors are aptly privileged to salt away on a multimillion-dollar venture. But before the construction of properties is initiated, it is extremely important to run a thorough topographical investigation whether these buildings are designed for commercial purposes or residential. Developers or property owners need to gauge the physical condition of the area. This is beneficial to the decision-making process as survey results will serve as basis of the building assembly or if the project should be pushed through or not.

A topological survey is not entirely part of a building construction effort. Albeit its essence in the creation of architectural plans, the same contractor cannot be anticipated to carry this out as this requires someone with the right experience. You need a licensed engineer with the expertise at assessing current conditions of the construction area. But such is not simply the time the property should be surveyed. An existing conditions survey remains critical in the maintenance of any building.

Considering how significant an engineer is in your entrepreneurial effort, it is proven wise to employ a team or a contractor all through your business initiative. It is not that challenging to pin down an established specialist. You can begin with the builders commissioned for the building construction. Get references from them. They sure have a large connection in the industry.

A detailed survey will allow you to save a fortune. So if it pains for you to dish out a monthly retainers fee, think again. This cannot be a big slash on your income. Expect the other way around as this allows you to do business smoothly in the next ten or twenty years.

Take cautious actions when deciding on a professional, though. It is important to know the track record and background. Therefore, you need to do your own survey on the credibility of a potential engineering firm or engineer. It is unwise to refer only to the words you hear from their friends. Better talk to the clients they have served with.

Contact a local network of engineers as well so you can investigate some more. Check with the office the veracity of the information you obtained from your original source. If you get a good word from them, you can start calling potential firms.

Do not discuss things over the phone. This is an important matter. You need to sit down for at least an hour with the party you are interested in hiring. Lay down all your expectations and the things you want them to do. Thus, be ready with a list of pivotal concerns.

While discussing the payment scheme, you need to ask for a proper explanation of all structures so you can easily pick out the most ideal. Price negotiation may somehow be inevitable, but you need to be considerate with your bid and remember to avoid driving a hard bargain.

Be clear on the terms. Understand and read the contract carefully. Ask clarifications for all entries if necessary. Keep in mind that moment the project is carried out, you can no longer stop it unless, of course, if do not mind wasting big bucks.




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