Technical Audit is an essential service in the context of a property transaction, allowing the client to save time and money in a long-term perspective. Prime Yield provides two lines of technical diligence services – namely Snag List and Full Structural Survey –, which differ considering the amount of information and the type of advisement needed by the client for a specific property. The services comprise both new and used properties in the residential and commercial sectors.
- Although the outcome of the audit can differ in terms of information depth and advisory levels, this service comprises a common basis diligence, namely an inspection to the property. This is a crucial step when buying or leasing a property, as it allows to confirm the conditions of the asset, if it is completed according to the standards identified by the buyer, ab initio; and the real need of making all the identified repairs and alterations.
- Besides saving time and money, it gives the client higher levels of confidence in the business he is doing, offering detailed information about the current conditions of the property.
- During the acquisition of a new property, we advise that the technical diligence is undertaken prior to the deed of sale. This will assure that all the finishing details will be completed, thus preventing future problems with the constructor after being in use of the property.
- Snag List
- Is a survey of faults or unfinished details in new, renewed or used property.
- The service includes a professional and on-site high quality survey to property in an independent and objective way, including an inspection to all internal and external areas of the asset. The service outputs are a written report and a photo report, covering all surveyed areas.
- Full Structural Survey
- In addition to the survey of faults comprised in the Snag List, this service includes a technical diagnosis of the project, construction methods and building materials used in the property. It also includes an open market valuation of the property.
- It aims to satisfy the client that, additionally to Snag List, requests higher complexity elements, allowing him to have an independent external opinion that identifies the most important negative and positive features of the property.
- In this type of work, an expert will thoroughly survey the property, checking all visible or easily accessible areas in order to examine the projects’ robustness, general condition and all small or big faults. These experts follow a professional code of practice and conduct and the client can be sure to receive a very detailed report, including all the survey findings.