{"id":3292,"date":"2025-10-21T16:01:58","date_gmt":"2025-10-21T20:01:58","guid":{"rendered":"https:\/\/genispec.com\/blog\/what-banks-and-insurance-companies-now-expect-from-a-building-inspection-report\/"},"modified":"2025-11-20T14:07:32","modified_gmt":"2025-11-20T19:07:32","slug":"what-banks-and-insurance-companies-now-expect-from-a-building-inspection-report","status":"publish","type":"post","link":"https:\/\/genispec.com\/en\/blog\/what-banks-and-insurance-companies-now-expect-from-a-building-inspection-report\/","title":{"rendered":"What Banks and Insurance Companies Now Expect from a Building Inspection Report"},"content":{"rendered":"[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||4px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;|auto||auto|false|false&#8221; custom_padding=&#8221;10px|||||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;rgba(3,110,140,0.06)&#8221; custom_margin=&#8221;5px|5px|5px|5px|true|true&#8221; custom_padding=&#8221;10px|5px|10px|5px|true|true&#8221; border_radii=&#8221;on|5px|5px|5px|5px&#8221; border_width_all=&#8221;2px&#8221; border_color_all=&#8221;#036e8c&#8221; box_shadow_style=&#8221;preset1&#8243; global_colors_info=&#8221;{}&#8221;]\n<p style=\"text-align: center; font-size: 1.5em;\"><strong>Key Takeaways<\/strong><\/p>\n<p><\/p>\n<ul>\n<li>Banks and insurance companies now require detailed engineer reports, not just visual inspections.<\/li>\n<li style=\"font-weight: 400;\" aria-checked=\"false\" aria-level=\"1\">They expect: a clear assessment of the building\u2019s condition, a structural diagnosis signed by an engineer, and a 10 to 25 year budget forecast.<\/li>\n<li style=\"font-weight: 400;\" aria-checked=\"false\" aria-level=\"1\">Reasons: more claims, stricter regulations (Bill 16, Bill 122), and frequent hidden defects, even in new buildings.<\/li>\n<li style=\"font-weight: 400;\" aria-checked=\"false\" aria-level=\"1\"><span style=\"font-weight: 400;\">A poorly done report slows financing. A thorough one speeds up the process and reassures everyone involved.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-checked=\"false\" aria-level=\"1\">Genispec provides complete inspections recognized by both lenders and insurers.<\/li>\n<\/ul>\n[\/et_pb_text][et_pb_text _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||15px||false|false&#8221; custom_padding=&#8221;15px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;]\n<h2><strong>A Simple Visual Report No Longer Suffices<\/strong><\/h2>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">A few years ago, a quick visit and a few photos could be enough to reassure a bank or insurer. That time is over. Financial institutions and insurance companies<\/span><b> now require thorough, evidence-based reports, often signed by an engineer<\/b><span style=\"font-weight: 400;\">, especially for commercial, multi-unit, or condominium buildings.<\/span><\/p>\n[\/et_pb_text][et_pb_testimonial author=&#8221;Yossi Elmaleh&#8221; job_title=&#8221;engineer at Genispec&#8221; portrait_url=&#8221;https:\/\/genispec.com\/wp-content\/uploads\/2018\/05\/genispec-icon.png&#8221; quote_icon_color=&#8221;#036e8c&#8221; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;]\n<p><span style=\"font-weight: 400;\">\u201cWe\u2019re getting more calls directly from banks. They want inspections, but not superficial ones. They want real data, because they need to protect themselves too\u201d <\/span><\/p>\n[\/et_pb_testimonial][et_pb_text _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||15px||false|false&#8221; custom_padding=&#8221;15px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;]\n<h2><strong>What a Building Inspection Report Must Now Include<\/strong><\/h2>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<h3>1. A Clear Assessment of the Building\u2019s Current Condition<\/h3>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Institutions need to know the condition of major components: <b>roof, foundations, walls, underground parking, plumbing, and electrical systems<\/b>.<\/span><\/p>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">A well kept <a href=\"https:\/\/genispec.com\/en\/building-expert\/building-maintenance-handbook-for-condominiums\/\">building maintenance logbook<\/a> supports this report by documenting the history of repairs and maintenance.<\/span><\/p>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<h3>2. <span style=\"font-weight: 400;\">A Structural Diagnosis Signed by an Engineer<\/span><\/h3>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Building inspectors can provide an overview, but <b>only engineers have the legal authority to issue certain technical recommendations<\/b>, particularly concerning:<\/span><\/p>\n<p><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The lifespan of systems<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Potential risks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Expected repair costs<\/span><\/li>\n<\/ul>\n<p><\/p>\n<p>&nbsp;<\/p>\n[\/et_pb_text][et_pb_testimonial author=&#8221;Yossi Elmaleh&#8221; job_title=&#8221;engineer at Genispec&#8221; portrait_url=&#8221;https:\/\/genispec.com\/wp-content\/uploads\/2018\/05\/genispec-icon.png&#8221; quote_icon_color=&#8221;#036e8c&#8221; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||23px||false|false&#8221; global_colors_info=&#8221;{}&#8221;]\n<p><span style=\"font-weight: 400;\">\u201cWe\u2019re an engineering firm. Inspectors have limits. A bank will often require an engineer\u2019s report to make sure there are no unpleasant surprises hidden in the building\u201d <\/span><\/p>\n[\/et_pb_testimonial][et_pb_text _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;15px||||false|false&#8221; custom_padding=&#8221;15px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;]\n<h3><span style=\"font-weight: 400;\">3. A Long-Term Financial Outlook: What the Building Will Cost in 10 or 25 Years<\/span><\/h3>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Some institutions now ask for <b>budget projections similar to a <\/b><a href=\"https:\/\/genispec.com\/en\/building-expert\/reserve-fund-study\/\"><b>reserve fund study<\/b><\/a><b>, even for commercial properties.<\/b> The goal is clear: avoid financing a building that will become financially burdensome within a few years.<\/span><\/p>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<h2><strong>Why These Requirements Are Increasing<\/strong><\/h2>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><b>Rising Claims<\/b> : Insurers are facing soaring costs due to poorly maintained buildings.<\/span><\/li>\n<p><\/p>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><b>Compliance with Quebec Bills <\/b>: Bills 16 and 122 impose new responsibilities on property owners. Institutions want to ensure the buildings they finance comply with these regulations.<\/span><\/li>\n<p><\/p>\n<li><span style=\"font-weight: 400;\"><b>Preventing Hidden Defects in New Construction : <\/b>Construction defects are increasingly common, even in newly built properties.<\/span><\/li>\n<p><\/ul>\n[\/et_pb_text][et_pb_testimonial author=&#8221;Yossi Elmaleh&#8221; job_title=&#8221;engineer at Genispec&#8221; portrait_url=&#8221;https:\/\/genispec.com\/wp-content\/uploads\/2018\/05\/genispec-icon.png&#8221; quote_icon_color=&#8221;#036e8c&#8221; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||23px||false|false&#8221; global_colors_info=&#8221;{}&#8221;]\n<p><span style=\"font-weight: 400;\">\u201cEven brand new buildings show irregularities. Banks know this now. They want proof\u201d<\/span><\/p>\n[\/et_pb_testimonial][et_pb_text _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;15px||||false|false&#8221; custom_padding=&#8221;15px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;]\n<h2><strong>What Makes the Difference for Banks and Insurers<\/strong><\/h2>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">A report signed by an engineer rather than a basic inspector<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">An on site inspection that covers the building envelope, structure, and technical systems<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Clear, prioritized recommendations with realistic timelines<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">The ability to produce multi-year projections, including upcoming interventions<\/li>\n<\/ul>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<h2><strong>What Genispec Provides in This Context<br \/><\/strong><\/h2>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Genispec already collaborates with lenders, insurance companies, and real estate brokers <b>seeking reliable, well documented, and actionable reports<\/b>.<\/span><\/p>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<p>Depending on your needs, our inspections can include:<\/p>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">A complete diagnosis signed by an engineer<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Detailed photos with clear recommendations<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">A 10 or 25 year budget forecast<\/li>\n<li><span style=\"font-weight: 400;\">Technical appendices highlighting detected structural anomalies<\/span><span style=\"font-weight: 400;\"><br \/><\/span><\/li>\n<\/ul>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<h2><strong>Conclusion: A Solid Report Simplifies Negotiations<\/strong><\/h2>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">A poorly prepared report delays financing, worries insurance companies, and complicates transactions. In contrast, a rigorous, well structured report signed by a professional builds confidence among all parties.<\/span><\/p>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Need to provide a report to your financial institution?<b> Genispec can help with thorough, engineer-led inspections<\/b> that meet today\u2019s stricter market requirements.<\/span><\/p>\n[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/genispec.com\/en\/contact\/#form&#8221; button_text=&#8221;Contact Genispec today&#8221; button_alignment=&#8221;center&#8221; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; button_text_size=&#8221;16px&#8221; button_text_color=&#8221;#FFFFFF&#8221; button_bg_color=&#8221;#036e8c&#8221; button_icon=&#8221;&#x35;||divi||400&#8243; button_icon_color=&#8221;#FFFFFF&#8221; button_on_hover=&#8221;off&#8221; background_layout=&#8221;dark&#8221; custom_margin=&#8221;||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;-29px|auto||auto||&#8221; custom_padding=&#8221;||1px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_divider color=&#8221;#036e8c&#8221; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||-21px|||&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_team_member name=&#8221;Genispec&#8221; position=&#8221;Consulting engineering firm based in Qu\u00e9bec&#8221; facebook_url=&#8221;https:\/\/www.facebook.com\/Genispec\/&#8221; linkedin_url=&#8221;https:\/\/www.linkedin.com\/company\/genispec-inspections-inc\/&#8221; icon_color=&#8221;#036e8c&#8221; use_icon_font_size=&#8221;on&#8221; icon_font_size=&#8221;20px&#8221; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; header_level=&#8221;h3&#8243; header_font_size=&#8221;18px&#8221; position_font=&#8221;|600|||||||&#8221; width=&#8221;100%&#8221; module_alignment=&#8221;center&#8221; min_height=&#8221;280px&#8221; custom_padding=&#8221;15px|0px|0px|||&#8221; border_style_all_image=&#8221;none&#8221; global_colors_info=&#8221;{}&#8221;]\n<p>Genispec is a consulting engineering firm made up of building engineers who are members of the OIQ. We offer specialized services in fa\u00e7ade and underground parking inspections in accordance with Law 122, as well as reserve fund studies and maintenance logs as required by Law 16. We also conduct inspections of commercial, multi-residential, industrial buildings, and condominiums. In addition, we provide building condition certificates and pre-delivery inspections.<\/p>\n<p><\/p>\n<p>All our reports are validated by a qualified engineer. Every article published on our website is reviewed and approved by a qualified member of our team to ensure the technical accuracy of the information.<\/p>\n[\/et_pb_team_member][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Banks and insurance companies now require detailed engineer reports, not just visual inspections. They expect: a clear assessment of the building\u2019s condition, a structural diagnosis signed by an engineer, and a 10 to 25 year budget forecast. Reasons: more claims, stricter regulations (Bill 16, Bill 122), and frequent hidden defects, even in new [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3291,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-3292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Building Inspection Report Now Required by Banks and Insurers<\/title>\n<meta name=\"description\" content=\"Banks and insurers now require building inspections signed by an engineer, including a structural diagnosis and compliance with Bills 16 and 122.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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