ARCHforensic®️ LLC conducts and prepares Property Condition Assessment reports for property buyers according to ASTM Standards. Property Condition Assessments help save businesses money because they identify construction defects, substandard maintenance, and common potential problems that could develop, as well as major repair requirements that are considered routine. Sometimes, lenders require a Property Condition Assessment prior to borrowing.
Property Condition Assessments identify both short and long-term repairs, as well as capital needs, to help provide predictability for clients and assist them with due diligence during property acquisitions.
During a Property Condition Assessment, ARCHforensic®️ will inspect major structural, electrical, plumbing and HVAC components of each structure, as well as site improvements, are examined for condition, status of completion, general code conformance, life cycle costs, sufficiency for their intended use, and extent of defects and depreciation. ARCHforensic’s team of experienced experts will interview site personnel, perform document reviews and conduct walk-through surveys noting the physical condition of the building systems and components of a Property Condition Assessment report.
ARCHforensic®️ Property Condition Reports will outline the systems and components along with any deferred maintenance or deficiencies observed. Based on industry standard, ARCHforensic®️ will formulate a list of immediate repairs and costs that will be incurred during the life of a loan. Immediate repairs can be defined as significant building code violations, fire code violations, safety concerns and deterioration to the building caused by deferred maintenance
To plan for large expenditures in advance of their replacement, ARCHforensic®️ will also provide a Modified Capital Reserves Schedule that approximates repairs and replacement costs most likely to occur over the evaluation period.
If you would like more information about this service, please contact us by phone at (833) 427-2487 or contact us here.