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
What are the deferred maintenance costs?
Must we address any fire, life safety, or building code
Do we face any ADA upgrade costs?
All these issues represent financial risks—and all can impact
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
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
• Fire Protection and Life Safety Systems - Includes
sprinklers, fire pumps, fire alarm systems, emergency
• 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