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Pre-acquisition building surveys are vital

KWB Commercial Property Specialists

A pre-acquisition building survey is not just about due diligence, it is vital for any investor to understand the on-going property costs.

Pre-acquisition surveys should focus on the lifecycle costs of the building, making the investor aware of repairs and maintenance required and a planned programme to tackle these.

Due diligence is not just checking that the building is not going to fall down, highlighting its condition and construction methods, or stating the life expectancy of certain elements or plant, it is much more.

For an investor, the building survey should actually be a key part in deciding whether to go ahead with the purchase in the first place.

The surveys should provide investors with vital information on what repairs will be required, when, and how much they will cost, and whether the landlord or tenant will be liable.

Only with a building survey outlining costs and liabilities should a decision to purchase be made.

Further information about building surveys is available via https://kwboffice.com/property-services/investors-developers/building-surveying/ or from Akim Kamangira on tel. 0121 233 2330 or by email: akamangira@kwboffice.com.