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16/11/2009 -
Assisting with the inspection process |
When you are considering the inspection of a property that you are considering purchasing, there are a number of matters and things that should be considered, about the inspection.
It must be remembered that many proprietors require discretion and often do not want their staff , nor the public, nor their customers to know, that the property or business is for sale.
There is also the matter of convenience. Inspections must be carried out at a time that is convenient. It is not courteous to expect to do an inspection when the proprietors may be "checking in" a coach load of guests.
Compiled below is a concise list of recommendations when you wish to inspect a business or property.
Do tell the agent, or broker with whom you are dealing. One of the reasons agents are employed is to handle the workload in dealing with inquirers and so on. The agent will contact the vendor and arrange a mutually suitable time.
Do tell the agent, because sometimes a property is withdrawn from sale and the agent has not yet been informed. This can save you considerable expense in travel costs and wasted visitation expenses.
Do plan to do inspections after 10.00 am. Particularly with motels, hotels and parks as the vendors may have had a busy evening and are occupied in checking out their guests.
Do plan to do inspections at least prior to 4.00 pm, as businesses particularly in the accommodation industry and hotels start to deal with their clients for that evening. This is allowing an hour for an inspection, prior to the general rush that can often occur after 5.00 pm.
Do allow at least one hour for an inspection. Allow considerably more if you want to examine financial data and to do a more thorough inspection.
Do be discreet if you are making inquiries around town. Many business proprietors do not want it splattered all over town that they have their business on the market.
Do try and give the agent ,or broker several days notice. We appreciate that this is not always possible, however, it does make the job easier.
Do let the agent know if you are a long way ahead or behind your schedule. The agent can then let the vendor know when to expect you.
Do ensure that you have established your capacity to buy, by either having the cash available, or by having consulted with your financial institution, or with your finance broker. If you wish to contact a finance broker,give us a call, we would be happy to refer you to one in the industry .
This list is by no means exhaustive, however, it will assist you in being able carry out inspections in the most convenient manner possible, for both yourself and the vendor.
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