Property evaluation

 

Have you ever bought a used car without having it inspected for faults, or bought a new car without studying its specifications? Did you buy a microwave oven, a camera, or a laptop without asking "someone who knows" – other than the seller or shop assistant?

Purchasing Real Estate such as an apartment or a house is in most cases the largest single deal a person ever makes, and the importance of using the best professional advice and back-up is surely paramount.

True, everyone can see what a property looks like superficially simply by walking through, but only a qualified, experienced Building Engineer/Surveyor can correctly understand and interpret the findings in a clear, professional manner. The competent professional approaches each inspection as a completely unique issue, simply because there are no two identical properties, even two adjacent apartments in the same development!

 

The methodology is implemented in the following manner:

1)   The documentation of the property provided by the client is studied to verify the correct address, ownership, size, and if required, conformity with Building Permits, and, for new construction, the layout and specifications of the property.

2)  The Building Engineer then visits the property and applying his expertise, carries out an in-depth inspection of every element of the property, such as the structure, windows and doors, piping, waterproofing, electrical installation, heating/cooling systems, etc, to ascertain the condition of each element.

The various tools of the trade range from a simple tape-measure to specialized electronic tools, such as a damp-meter which indicates unacceptable levels of wetness in the walls or floors. Of prime importance is the Building Engineer’s technical knowledge based on training and experience;

3)  A written report is then produced of the technical findings, presented in a form and terminology which the client can easily understand, to facilitate a clear understanding of the true condition of the property. This report contains important information that can have a major impact on the purchase negotiation process and the final closing!

 

The advantages of utilizing the services of a Building Engineer to inspect the property prior to making any firm commitment can be categorized into three major aspects:

1)  You, as the potential owner, will have a clear understanding of the true condition of the property.

2) You, as the potential buyer, can utilize the information in the Engineer's Report as a valuable negotiating tool potentially saving thousands of dollars for an investment of only a few hundred.

3) You, the client, have a Professional Engineer whose knowledge you can tap into at any stage of the transaction process, and afterwards too, to gain clear, detailed technical advice to assist you in making the correct decisions.

The critical importance of the Engineer's Report is recognized in many countries and States and has become a legal prerequisite on par with the services of the Lawyer and Realtor/Estate Agent. This is not yet the case in Israel, but moves are in process in this direction.

 

The quality of new construction in Israel continues to improve, due to specification of better materials and attention to building details, coupled with more stringent control of the qualifications of the tradesmen. However, whilst these have been instrumental in constant progress, there still remains a long road ahead.

The presence of a qualified Building Engineer doing the final inspection prior to your receiving the keys, has both immediate and long term advantages:

-  the Developer affords more respect to the contents of the punch list

-  in the unfortunate event of litigation, the report has infinitely greater value as a court document.

 

There are no guarantees provided with pre-owned property as there are with new buildings. The concept of buying "as-is" is widespread, but the seller has the responsibility according to the "Chok HaMecher" (Israeli Real Estate Sales Law) to provide the buyer information as to any major defects which may exist.

This also applies to Second Hand Car Salesmen -- that's why there are authorized Car Testing Shops and there are professional  Building Engineering Surveyors.

 

Written by: Chaim Milun B.Sc., registered Engineer