Category: Commercial Inspection

“Good and Customary Practices” for a Commercial Inspection

“Good and Customary Practices” for a Commercial Inspection “Good and Customary Practices” for a Commercial Inspection

In 1999, ASTM Standard E2018-99 was published by the American Society for Testing and Materials, outlining what’s considered “good and customary practice” for commercial property inspections. The Standard was written to demonstrate what’s considered proper in conducting what’s called a baseline Property Condition Assessment, or PCA. As a commercial property inspector, you’re no doubt familiar […]

The Value and Anatomy of a Commercial Inspection

The Value and Anatomy of a Commercial Inspection The Value and Anatomy of a Commercial Inspection

A commercial inspection, also called a commercial building inspection or known as a property condition assessment, may be done for lenders, real estate investors, or insurance company underwriters. This inspection is needed in order to understand the condition of a particular property. This should include a property condition report detailing each building system and describing […]

The Differences Between a Residential and a Commercial Inspection

The Differences Between a Residential and a Commercial Inspection The Differences Between a Residential and a Commercial Inspection

Property inspections can be roughly broken down into two types: the residential inspection and the commercial inspection. While both of these inspection types share similarities of purpose, they’re also distinctly different in a number of ways. Both are meant to provide documentation outlining the current condition of the property being inspected and to identify any […]

The All-Important Commercial Inspection

The All-Important Commercial Inspection The All-Important Commercial Inspection

A commercial inspection is typically an integral part of the process of buying a commercial building and might be ordered if you’re an insurance underwriter, an investor, a portfolio lender, or a commercial mortgage-backed security lender. These commercial inspections may be referred to as facility condition assessments. The purchase of a building can represent a […]

Important Items of Today’s Property Insurance Inspection Technology

Important Items of Today’s Property Insurance Inspection Technology Important Items of Today's Property Insurance Inspection Technology

Home insurance inspections have long been an important part of the home insurance policy underwriting process providing you, the insurance underwriter, with critical information used in your important underwriting decisions. A home insurance inspection generally has two main purposes: To determine the replacement cost of a property should it become destroyed by a peril covered within the […]

Important Advancements in Property Inspection Technology

Important Advancements in Property Inspection Technology Important Advancements in Property Inspection Technology

Back in 1962, a book called The Success System That Never Fails was published by self-help book author, philanthropist and founder of a multi-billion dollar insurance company W. Clement Stone. What has since become a popular phrase in business management was coined on page 7 of this book – something Stone called “a secret of […]

The Purpose of a High-Quality, Reliable Commercial Inspection

The Purpose of a High-Quality, Reliable Commercial Inspection The Purpose of a High-Quality, Reliable Commercial Inspection

As an insurance company underwriter, ordering a commercial inspection is standard procedure when looking at writing insurance coverage for a business. Whether a new policy or the renewal of existing coverage, a commercial inspection is needed for several reasons: To ensure accurate valuation of the building for replacement purposes To ensure the business is not […]

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