A Property Condition Asessment (or "PCA") is an unbiased commercial real estate due dilligence assessment that is useful for sellers, buyers, lenders, commercial property owners, investors, and insurance agencies. The outcome of the PCA is referred to as a Property Condition Report (or "PCR"). The information in a PCR is vital for forecasting expenses when paparing to purchase commerical real estate, maintaining a property that you already own, and more.
What are the benefits of a Property Condition Assessment?
There are various reasons for having a PCA completed for a commercial property, depending on the parties involved:
What is involved?
A commercial property inspection and due diligence firm will follow the accepted PCA guidelines according to ASTM E2018, which is from the architectural/egnineering perspective, as well as the CCPIA (Certified Commercial Property Inspectors Association) Standards for commercial inspection.
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