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When considering the purchase of any building, the due diligence process
should include a thorough review of the existing elevator equipment.
The function of due diligence is to independently verify all representations
made by a prospective seller as well as to uncover pertinent facts which
have not been disclosed but which are important to the buyer. Third
party assessments of existing vertical transportation systems will assure
the soundness of one’s investment, or in some instances, shed
light on situations that require immediate attention and hundreds of
thousands of dollars to correct. In our evaluation of the elevators,
we consider safety, obsolescent equipment, code compliance, barrier
free compliance, equipment condition, level of maintenance being provided
and ability of the system to serve the building.
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