Property Condition Assesments
Whether you are contemplating purchasing an existing building or you already own one or more buildings and want to be able to plan for future maintenance and repairs, the staff at FORESIGHT can provide you with the information you need to make informed decisions. To date, we have completed comprehensive facility evaluations of more than eighty-five buildings for thirty different clients.
According to the ASTM Guide E-2018 for Property Condition Assessments, a PCA is defined as: ‘the process by which a person or entity observes a property, interviews sources, and reviews available documentation for the purpose of developing an opinion and preparing a property condition report (PCR) of a commercial real estate’s current physical condition. All of our building evaluations include:
- Site evaluation by a registered Architect.
- Detailed description of the property on a system-by-system basis.
- Document research and review.
- Interviews with facility managers and others familiar with the property.
- Detailed list of items in need of repair or replacement.
- Probable cost opinions for items requiring repair or replacement.
- Photographic record of required work items.
The value of a PCA
As part of a buyer’s pre-purchase due diligence, a PCA is an invaluable tool for understanding the potential costs associated with owning the building. When conducted by trusted professionals, a PCA is an unbiased assessment of the condition of the building and expected future capital costs.
Foresight Architects was founded in 1993 and has completed comprehensive facility evaluations of more than eighty-five buildings for thirty different clients. Our typical turnaround is less than fifteen days and we can also accommodate rush jobs in as little as five days.
In addition to the services included in a basic Property Condition Assessment, we can also provide additional services to help our clients complete their due diligence and better understand the value of the subject building. These include:
- Phase 1 Environmental Site Assessments.
- ADA accessibility surveys.
- Drawings of the existing building.
- BOMA square-footage verification.
- Research of government records.
- Multi-year projection of anticipated capital expenditures.
- Recommendations for value-enhancing improvements.