Property Condition Assessment
What is a Property Condition Assessment?
A Property Condition Assessment (PCA) is an in-depth visual inspection of a building that can help determine the status of the property as well as its systems and needs. As a part of an owner or lender’s due diligence process, this assessment is typically done prior to the purchasing, leasing, or financing of a property. For example, if the PCA shows serious foundation issues, this will inevitably impact the value of the property. The PCA will empower you with detailed knowledge of the property for negotiating the perfect sale. PCAs can also be called Commercial Building Inspections, Commercial Property Assessments, or Capital Needs Assessments.
Why Property Condition Assessments Can Save You Time and Money
Obtaining the building assessment is an essential step in making informed decisions that can greatly affect offer pricing and renovation budgets. Based on our thorough assessment, Moran Construction Consultants will opine on the age, condition, and remaining useful life of each building component.
Our PCA reviews are tailored to meet each individual property’s needs. We have experience completing assessment reports meeting ASTM E2018-15, Freddie Mac, Fannie Mae, HUD, and State Agency reporting requirements. Property inspections are completed to document existing conditions, immediate physical needs, physical needs over the term, adverse property conditions, deferred maintenance items, and life safety and accessibility issues. We also offer HUD Rental Assistance Demonstration (RAD) and Physical Condition Assessments.
Thoroughly Understand Your Property with the Right Help
Upon completion of the Property Condition Assessment (PCA), the potential buyer will be equipped with an unveiled, professional opinion of the overall condition, remaining useful life, and cost to repair the existing property. Not only is this information critical for negotiating the purchase price, but it is also vital in the development of a complete renovation scope and budget, as well as planning for capital expenditures over the term.
When it comes to PCAs, you need the service of a reliable company with a strong reputation. With over 50 years of industry experience, our consultants can help you make an informed decision before making a critical investment. Call us today at 225-351-2003 or contact us online to begin the process and learn how we can help with your next investment.