Monday 12 October 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.

Topological survey is not a hundred percent part of the construction effort. Granting that this is essential to the creation of an architectural plan, it does not necessarily mean the same contractor can do it as it is a separate business. You need the expertise of a qualified engineer in determining the condition of the area and the structure to be erected. But this is not just the time you have to have your property probed. An existing conditions survey will also be critical to regular building maintenance.

Knowing the significant role of an engineer in your entrepreneurial endeavor, it is proven right to commission one team or contractor all the way in your business effort. It is not really a tough task to pin down a good one. You can start with the builders you hire. Get referrals from them as they pretty sure have a wide connection in the engineering industry.

A comprehensive survey allows you to trim down cost. So if you think it pains to pay for a monthly retainers fee, just teach yourself to be a bit wiser. This is not a big slash to your income. Rather, it allows you to carry on with your business smoothly for the longest period of time.

Take extra caution when deciding a professional. You ought to know the background or track record of the specialist. You should otherwise carry out your own survey regarding the credibility and standing of a potential engineer or firm. It is imprudent to refer simply to the what their friends say. Better talk to their clients directly.

Talk to a recognized network of engineers in your area as well for you to investigate further. Seek advice from the office and verify veracity of the collected information. If the office gives you a go signal, phone up potential firms right away.

Never discuss important matters over the phone. You have to sit down for an hour or two with the party to be hired. Lay down every expectation you have so they will know what you have in mind. Be ready with your list of relevant concerns.

When discussing the payment structure, get the contractor to show you all schemes so you can agree with the most suitable for you. While price negotiation is inevitable, be considerate with the bid you are getting and do not drive a hard bargain.

Be clear with the terms. Read and understand the contract very carefully and ask for explanation of each entry. Once the project is undertaken, there is no way you can stop it unless you do not mind spending big money for nothing.




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