For every real estate transaction that you are involved in—chances are—as part of the due-diligence process you are hiring a commercial building inspection professional to inspect the property. This is a helpful and valuable service that you routinely recommend to clients any may be required by lenders, however if the inspection is not done objectively and carefully, it may lead to major issues.
The term “building inspector” is often a self-issued title and, with the exception of a few states, there is very little regulation in this rapidly growing industry. On the other hand, Professional Engineers are licensed by the state in which they practice, and they:
- Have completed an accredited, degreed engineering program
- Have four years of work under the direction of other engineers
- Passed a comprehensive two-day exam
- Are bound by a code of ethics and state law to practice only in areas where they are qualified
Professional Engineers Can Save Time & Money
By law in most states, only a licensed, Professional Engineer is permitted to render an opinion as to the structural integrity of a building. A building inspector may be qualified to find the symptoms that a building presents (i.e., there is a crack), but then must suggest the consulting services of a licensed, Professional Engineer for further evaluation. This can be an expensive and time delaying addition to the inspection process. Hiring a building inspector who is a licensed, Professional Engineer, in the first place, can save your client additional consulting fees and valuable time.
Professional Engineers Are Insured
Another important aspect is that licensed, Professional Engineers maintain comprehensive professional liability insurance with nationally recognized insurance carriers. As licensed, Professional Engineers, we strive to deliver on our promises. In the event of an error or oversight, having professional liability coverage means we have the financial means to back up our work.
Professional Engineers Are Legally Accountable
The most important quality is the accountability as Professional Engineers. They stand behind their work and are legally and ethically accountable.
Whether your clients are large corporations, real estate investment trusts or individual investors, engaging with licensed, Professional Engineers will give your clients the peace of mind that they are getting the most professional advice available.