Property Condition Assessments (CPA)
Our Property Condition Assessment (CPA) reports provide real estate investors, developers, owner users, and government agencies a written report outlining the existing condition of a potential property while highlighting any potential areas of concern. This brings peace-of-mind to the ‘go/no-go’ decision to move forward with the purchase while still in the due diligence phase.
Our inspectors are licensed engineers with years of experience in both monitoring new construction and evaluating existing structures and systems. Our focus on detailed cost evaluation and loan disbursement in conjunction with construction quality and building systems allow our staff to bring a trained discriminating eye while evaluating existing properties.
SCOPE OF WORK
Falkin Associates will review the existing property and provide a written report documenting the property’s existing condition based upon visually observable components of the property. No destructive investigation or testing will be performed.
A written report will be prepared documenting the results of our observations. The report will include the following information in standard format:
1. Property Description: A brief section that describes the age, size, and approximate dimensions or floor areas of the property. Observation of building materials, including framing and finishes, are also included. Site improvements are described, including the condition of pavement, sidewalks, landscaping and irrigation system. Site zoning compliance and a description of the site terrain are also provided.
2. Structural Elements: Description of the buildings structural elements and opinion of the existing condition based on visual observations. Items of concern will be documented in the written report.
3. Building Systems: General quality and description of the major building systems is included. Our visual assessment will result in an overall opinion of system quality, maintenance, capacity and adequacy.
4. Observations: Our summary observations section detail property strengths, observed immediate problems, current deferred maintenance items and preliminary estimates of cost to repair them.
5. Additional Services: Additional services may be requested and will be billed hourly at an additional rate. While our PCA reports include current deferred maintenance item costs, a standard PCA report does not include a Capital Reserve Requirement Study, which may be requested as an additional service.
Specialty Investigation and Reporting
While Falkin Associates employs some of the top professionals in the industry to perform our PCA building investigations, we also have a broad network of local and national engineers and design/consulting professionals to bring the best value to our clients. We pride ourselves on assembling the right team for each individual investment and project . Our partners allow us to provide great service and act as a one-stop shop for our clients while always delivering the precise information you need to guide your decisions.