Inspection

Question 1

VPGA8 - What to look for in an inspection

Answer 1

• Characteristics of locality and surrounding area
• Availability of services and facilities in area
• Dimensions and areas
• Age and construction details
• Accessibility
• Installations, amenities and services
• Fixtures, fittings and improvements
• Plant and equipment which would normally form an integral part of the building
• Repair and condition
• Hazardous materials
• Characteristics of site
• Potential for development
• Physical restriction on further development

Question 2

Common aspects of a Valuation which often raise issues about the extent of investigation required or about the nature of the assumptions that might validly be made

Answer 2

• Legal enquiries
• Title
• Improvements to the leasehold property
• Planning controls
• Quotas or restrictions
• Outgoings and recover
• Property taxes
• Environmental matters

Question 3

Inspection Process - before inspection

Answer 3

• Risk assessment
• Due diligence checks
• Clarify the purpose with the client
• Make appointment
• Plan route
• Gather tools - PPE, jacket, phone etc

Question 4

Inspection process - during inspection

Answer 4

• Sign in with local manager and look at any asbestos register or other relevant info on site about the property
• Look at the locality and anything that might affect value in the location
• Look at the outside of the building and note construction, age, etc
• Walk round in a structured method, i.e. front to back
• Draw or annotate an existing plan
• Take photographs
• Sign out with manager