Commercial Real Estate Inspection Services Laws and Regulations

Arm yourself with knowledge about commercial real estate inspection services laws and regulations

Inspecting commercial real estate is a subjective practice required in order to adhere to various commercial real estate inspection services laws and regulations regarding code of conduct and ethics. Because the results included in a commercial property inspection report can greatly affect the sale and purchase of commercial property, both state and federal laws regulate the actions of a commercial real estate inspector.

To help you identify commercial real estate inspection services laws and regulation with which inspectors are required to comply, you need to:

1. Learn how to qualify for a real estate inspector license.

2. Research commercial real estate inspector code of ethics.

3. Seek advice on state insurance laws for commercial real estate inspection services.

 

Gain knowledge on commercial real estate inspection regulation

State law regulates the qualifications individuals must meet to become authorized to provide commercial real estate inspection services. In many states the requirements for residential and commercial real estate inspectors are the same or very similar. Some states require ethics testing while others require financial assurance and a relatively clean criminal history. You can contact your state's building commission or similar state agency to obtain information about specific requirements you will have to meet.
Try: Read more about state commercial real estate inspector licensing laws by visiting the American Society of Home Inspectors. You may also check out state commercial real estate inspection regulations by checking out the Foundation of Real Estate Appraisers (FREA).

Identify commercial real estate inspector code of conduct regulations

Commercial real estate inspectors are required to adhere to code of ethics regulations. These regulations are in place to ensure that their actions aren't harmful to the public or the real estate inspection industry. Ethics standards require that individuals providing commercial property inspection services do so in a fair, honest and impartial manner. These standards also require that inspectors not have any undisclosed conflicts of interest with clients for whom they are conducting inspections.
Try: Read more about ethics standards by visiting the International Association of Certified Home Inspectors. You may also find out more about commercial real estate inspection code of conduct laws by visiting the National Association of Real Estate Inspection and Evaluation Services.

Understand insurance laws applicable to commercial real estate inspection services

State law requires commercial real estate inspection companies to carry errors and omissions insurance. The actual minimum amount required will vary by state and businesses can choose limits that fit their needs as long as all inspectors carry insurance that meets the state's minimum requirements.
Try: Check out Inspect-It 1st for more information about insurance regulations of commercial property inspectors. You may also find out more about commercial real estate inspection service insurance requirements by visiting Errorsinsurance.com.

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