Property Condition Reports, Review of Plans & Specifications, Cost to Complete, Site Observation Reports (Application for Payment Approval).
An assessment of all observable site and building components, thus helping to determine both the current condition of all components and categorize future capital improvement estimates into critical, immediate, short-term, and long-term estimations. At your request, this report can be written in accordance with ASTM, HUD Mark to Market, Freddie Mac, or other specific guidelines.
The observations shall be summarized in a detailed Report with recommendations for immediate corrective work, near term and a Replacement Reserve Analysis.
The PCR will report on the status of the major building components including but not limited to:
- Site work (topography, storm water drainage, access, egress, paving, curbing, parking, flatwork, landscaping, recreational facilities)
- Utilities (water, electricity, natural gas, sanitary sewer, storm sewer, special utility systems, on-site generation)
- Structural Frame and Building Envelope (foundation, building frame, facades, parapets, water penetration issues, windows, skylights)
- Roofing (material, condition, drainage, flashing, coping, issues)
- Plumbing (age, piping supply, drain/waste/vent, domestic water production, fixtures)
- HVAC (heating plant, fuel sources, storage tanks, pumps, distribution systems, controls, rooftop units, issues)
- Electric System (building power, fixtures, emergency power, emergency fixtures, fire alarm, GFCI, issues)
- Elevators – (number of cabs, controls, equipment)
- Fire Safety (system types, smoke detection, alarm)
- Apartment and common area interiors (finishes, conditions, issues)
- Handicapped accessibility
Prepared prior to the start of new construction or renovation, this report is based upon a visit to the site(s) and includes a comprehensive review of all available plans, direct cost construction breakdown, specifications, building department applications/permits, scopes of work, technical reports, project contracts. Initial site visits and our technical reports are designed to help identify any issues that should be considered prior to closing.
The following sections are included with comments, questions and recommendations:
- Project Scope and Key Issues
- Site Comments
- Architectural Comments
- Structural Comments
- Building Systems Comments
- Other Issues Affecting the Construction
- Specifications Comments
- Construction Schedule
- Budget Review
- Evaluation of Contracts
Report based upon a visit to the site(s), a review of the plans, direct cost construction breakdown and other related documentation. It can be completed and submitted within 2-3 weeks of authorization to proceed assuming access to the property and needed information is made available in a timely manner. Our report will include information on existing building conditions and review of work already in place, as well as pending construction work.
Generally issued monthly, this report includes a complete site and building observation with a focus on a monthly requisition to the lender. It includes the project data, site conditions, site safety, funding recommendation, change orders, contingency funding, retainage, potential delays/overruns, quality of construction, permits, violations, and schedule/estimated completion.
We visit the site in conjunction with Applications for Payment or as directed by the Bank to review the progress of the work and report on the following:
- Progress of the work and whether the payments requested fairly represent the amount of work completed on the project. In addition, review amount shown as necessary to complete the project.
- Quality of construction and standard of workmanship.
- Compliance with the approved plans and specifications.
- Anticipated labor stoppage and material shortages that could adversely affect the completion of the project.
- Review change orders.