(ASTM E2018-08)
The work product resulting from completing a PCA in accordance with ASTM E2018-08 is a Property Condition Report (PCR). The PCR incorporates the information obtained during the Walk-Through Survey, the Document Review and Interviews, and includes Opinions of Probable Costs for suggested remedies of the physical deficiencies identified.
Physical Deficiencies
The goal is to identify and communicate physical deficiencies to a user. The term physical deficiencies means the presence of conspicuous defects or material deferred maintenance of a subject property’s material systems, components, or equipment as observed during the field observer’s walk-through survey. This definition specifically excludes deficiencies that may be remedied with routine.
Maintenance, miscellaneous minor repairs, normal operating maintenance, etc., and excludes conditions that generally do not present material physical deficiencies of the subject property.
Walk-Through Survey
A walk-through survey to identify the subject property’s physical deficiencies, and recommends various systems, components, and equipment that should be observed by the field observer and reported in the property condition report (PCR).
Document Reviews and Interviews
Reviews, research, and interviews to augment the walk-through survey so as to assist the consultant’s understanding of the subject property and identification of physical deficiencies.
Project Condition Assessment Report
(NON-ASTM)
Types of Projects:
- Single Family, Multi-Family, Commercial
- Partly completed projects
- Projects built for a specific building type, then switching to different building type at the end of construction
- Foreclosed projects
- Builders switching insurance carriers
Customizable Reports
- Contracted Directly with Carrier
- Contracted with Trustee
- Contracted with Owner to Shop Insurance Coverage
- Basic Project Status for Developer
Documents the current condition of the property. The report can outline:
- Inspections performed to date
- Current systems installed
- Percent of completion of the current systems
- Items identified as requiring additional attention by the appropriate trades’ person