Commercial Real Estate Inspection Services Key Terms

Learn about commercial real estate inspection services terminology

A commercial real estate inspection services company provides building inspection services to office buildings, shopping malls and other commercial establishments. This inspection includes surveying exterior walls, heating, cooling, plumbing and electrical systems, attics and balconies. The property inspector provides a written report of the general condition of the site or building, its components and systems and issues recommendations if applicable.

While interacting with commercial real estate inspection service companies, you will come across various technical terms. This guide aims at acquainting you with certain commercial real estate inspection key terms, such as real estate inspector, property condition report and ASTM E2018-08.

 

Real estate inspector

A real estate inspector has the license to inspect commercial and/ or residential real estate properties and issue a certificate regarding the condition of the property. Standards and code of ethics bind these real estate inspectors. If you intend to buy a commercial property, you must get the inspection done through a qualified real estate inspector.
Try: You can read through the definition of a real estate inspector at the glossary at Homes-and-real-estate.com.

ASTM E2018-08

ASTM E2018-08 refers to a set of standards that provide guidelines for property condition assessment. The purpose of the standard is to define good practices for conducting a baseline assessment and to issue recommendations wherever necessary.
Try: You can learn about ASTM E2018 standards at ASTM International, the organization that develops standards for a wide range of materials.

Property condition report

After a property condition assessment, the inspector needs to document the observations and recommendations in a formal report. This report acts as a guide to a prospective property buyer and can help in negotiating the price.
Try: You can get a brief idea of a property condition report at Know-Fault Ltd., an inspection and consulting firm.

CIA (Commercial Inspectors of America)

This organization develops certified and licensed building inspectors for the commercial inspection industry. It designs policies, procedures and standards for personnel working in the commercial real estate inspection services field.
Try: You can learn more about this association at Commercial Inspectors of America.

Building insulation

Inspection services include checking for proper insulation of the building. Insulation includes thermal insulation as well as insulation against fire, and acoustic insulation.
Try: Learn more about building insulation at Open Hearth Home Inspection, LLC., a provider of home inspection services.

Radon testing

Radon is a radioactive gas that is injurious to health. Commercial real estate inspection services include testing for radon levels, to make sure that the real estate property is suitable for use.
Try: You can learn more about real estate radon testing at Radon Testing Corporation of America, a provider of radon testing services.

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