Why would an investor need to see the inside of a building he considers a tear down? (value, buyer)

[Java378]

Why would an investor need to see the inside of a building he considers a tear down?

That is the question I have.

[MikeJaquish]

Skeletons in the closets.
Environmental considerations.
Asbestos.
Lead paint.
Oil tank in the basement.
Meth

One should assess a tear down, and should try to learn if it comes with any surprises.

[Squirl]

all of the above and also to see if there is anything with salvage value

[bustaduke]

Originally Posted by MikeJaquish

Skeletons in the closets.
Environmental considerations.
Asbestos.
Lead paint.
Oil tank in the basement.
Meth

One should assess a tear down, and should try to learn if it comes with any surprises.

Yep you should do your homework and know what you're buying before signing on the dotted line.

A few years back a guy here purchased an old gas station and was converting it into a restaurant and was caught by surprise when he found out he had to remove the old tanks in the ground plus all the soil that was contaminated. He didn't have the extra budget to complete the work. The building still sits unfinished because because no one wants to buy it and he's out of money.


busta

[Mike1306]

Because he is the buyer and he has that right