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A visual inspection of a property that is performed by trained, experienced professionals is known as a Property Assessment. These professionals are well acquainted with all kinds of properties, structures and their components. During the assessment, they examine the exterior and interior of the property, paying careful attention to damages. A comprehensive report is generated noted all components of the property with supporting photos.
Benefits of a Property Assessment
This Property Assessment is carried out to understand to make an informed decision before buying, selling or renting a property. With a thorough property assessment, you will have the clarity of the existing issues in the property, the repairs that are required in the property, what needs property maintenance services and the areas that can become issues in future. By having this information, the expense analysis can be easily calculated prior to buying and investing in a property.
A property assessment can be broken down into four steps. They include a visual inspection, damage assessment, inspection report and supporting photos.
The assessment of the property is completed by qualified and experienced inspectors who examine the property visually to identify potential issues and existing damage. They make note of any imperfections and include them in an extensive inspection report.
If damage is identified at a property, the inspectors take detailed notes along with corresponding photos to explain the issues. In some cases, video is used to illustrate extensive damage that is difficult to capture using photos alone.
Once the inspection is completed, a detailed report supporting the assessment is compiled. No details are missed and the report is submitted in a timely manner.
Photos, and in some cases videos, are included in the inspection report. These photos act as evidence proving the condition of the property and explaining any potential issues or damages present.
Difference Between a Property Assessment and Home Inspection?
A property assessment or inspection completed on behalf of a real estate investor, landlord or financial institution is very different from a traditional home inspection.
Property assessments or inspections play pivotal roles in the mortgage, real estate, construction and insurance industries. Different types of property inspector jobs require different levels of education, licensing and certification. These assessments are done to validate the condition of the property either before purchase or in-between tenants.
Home inspections are generally done in the residential multiple listing service (MLS) space and are specifically designed to provide assurance to the new homeowner about the property. They provide significant information for the traditional buyer to make informed decisions about a potential purchase.
SGPNow is one such service provider, which is experienced in property assessment and inspection. Click here to know more about property assessment, inspection and maintenance services, what are the things covered under each and all the benefits of the same.