Property Condition
Typically associated with commercial property, PCA’s are commonly referred to as “Property Condition Reports” (PCR’s). They are generally performed as part of a property transfer or refinancing due diligence requirement by a loaning institution. Property Condition Reports are valuable in that they can identify deficiencies that may negatively impact the value of a given sites loan worthiness and aids protecting consumer interests. The many years of experience in the construction and engineering professions make EnGEN uniquely qualified to perform these services. Because no two clients or properties are identical, neither should the level of services offered to a client in this field and as in our other services, we offer levels of services that fits the client and project needs.
Consulting Service
Real estate investors and property managers require a trained eye to assess a given property’s condition. In many cases it is what is not seen that can affect a property’s value. Whether assessing a site for repairs and potential improvements or purchasing raw land, a proper site assessment can make a significant difference in the bottom line of any investment. EnGEN provides a multiple levels of consulting services in the Property Condition Assessment discipline. From a simple site walkthrough to a complete ASTM E2018 compliant Property Condition Report.
General Property Condition Reports (Non ASTM E2018)
In many cases a formal ASTM compliant property assessment may not be necessary to satisfy a client’s basic needs, particularly in the area of residential developments. With this level of study one can obtain a simple report of a site condition along with appropriate recommendations without the expense associated with the American Society of Testing and Materials protocols. Many individual banks find these reports sufficient for an initial site review while making determinations for future action.
General Property Condition Reports (ASTM E2018 Compliant)
An ASTM compliant property condition report is generally required on Commercial and Industrial Properties by loaning institutions looking to refinancing existing loans or finance the purchase of improved property. This level of report provides a check-list of pre-defined areas of concern that the assessor is required to address as well as providing estimated costs for repairs if necessary. EnGEN’s years of experience in the construction and real estate industry insure a proper Property Condition Assessment.