Property Condition Assessments

In the last two years I have started to notice a trend in investment and brokerage companies spending massive amounts of cash without spending even a minute in safeguarding themselves. Investment properties can be an excellent source of money, especially to companies that HAVE the money to drop on a big apartment complex or large building for leasing. This is the part of the business that I have a problem with. The investors that are only investing in smaller parcels and buildings should focus on spending some coin on worthwhile insurance, such as PROPERTY CONDITION ASSESSMENTS!! The larger guys I guess have more experience and feel more confident about the properties they purchase, but if anything they have just as much responsibility with having the site examined as anybody.

These Property Condition Assessments are an excellent tool, and there is no reason for you to not take advantage of them. Top types of properties can range from the following:
- Schools
- Hospitals
- Commercial Buildings
- Apartment Buildings
- Condos
- Resturaunts

...but all are important! Remember how imperative it can be that you get these done. The last thing that anybody wants is to end up with a beautiful building on a piece of land that is constantly emitting toxic gas because it used to be a waste dump. Get a Phase I Environmental Site Assessment (ESA) done! Still don't know why you should? I suggest checking out the wikipedia article about the Phase I reports, it is pretty well written and has great sources and links to other great resources. Check out other blogs as well, such as this one which has great information about JUST Phase I ESA's and Phase II ESA's.