Property Condition Survey (ASTM 2018) Westminster Real Estate Advisors works with clients within time frames and budgets required to close the deal. We have completed Property Condition Assessments for FREDDIE MAC and FANNIE MAE loans.

A property's condition directly impacts your bottom line. Purchasers and lenders must assess the financial impact of these issues during the due diligence process. Buying a building or other facility or planning to finance a purchase our clients face many considerations, from deferred maintenance and/or capital replacement costs to a lack of compliance with fire, life safety or building codes. WREA will find answers to several vital questions:

• What are the remaining useful lives of the building systems?
   
• Must we reserve monies for capital replacements? What are they?
   
• What are the deferred maintenance costs?
   
• Must we address any fire, life safety, or building code issues?
   
• Do we face any ADA upgrade costs?

All these issues represent financial risks—and all can impact transaction value.
WREA conducts focused reviews of buildings and facilities during due diligence. In strictly scoped Property Condition Assessments (PCAs), our staff realistically assesses the condition of the properties involved. We review and assess building systems and code compliance, estimating deferred maintenance and/or capital costs. We then provide opinions of the probable costs of addressing physical deficiencies identified.
WREA performs standard PCAs according to the ASTM E 2018- Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process. Frequently, too, we will undertake a wider scope of services at our client's request. Our assessments typically include:

• Site Development - Includes topography, storm water drainage, access and egress, pavements, flatwork, landscaping, recreational facilities, and utilities

• Structural Frame and Building Envelope - Includes foundations, structural frame, building exterior, and roofing.

• Mechanical, Electrical, and Plumbing - Includes heating, ventilation and air conditioning systems, electrical systems, and plumbing systems.

• Vertical Transportation - Includes elevators and escalators

• Fire Protection and Life Safety Systems - Includes sprinklers, fire pumps, fire alarm systems, emergency lighting, etc.

• Interiors - Includes common-area finishes, restrooms, typical office area finishes, and special amenities such as fountains, pools, and other recreational facilities

• ADA Considerations - Although not part of the ASTM E 2018- baseline scope, WREA will discuss the existing conditions of the structure to inform our clients of the conditions.