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The purpose of any inspection is to ensure the integrity and good maintenance of the property, and the adherence to the agreement that exists between landlord and tenant. Entry into a dwelling does not give the landlord the right to gather information on, or to investigate, or interfere with, the privacy of the tenant.
In most cases, the inspections include, but are not limited to, plumbing inspections, fire sprinkler system inspections, fire alarm system inspections, electrical inspections, fire pump pressure tests, architectural inspections (where inspector checks if building was built in accordance with an architect's stamped and approved drawings ...
The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental contracts) cover such rentals since they typically do not result in recordable deeds.
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Property condition assessments (PCAs) (also known as the property condition report, or PCR) are due diligence projects associated with commercial real estate.Commercial property and building inspections are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, financing or simply maintaining.
Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics.