Untitled Document

PCS Description: A PCS is a comprehensive physical inspection and evaluation of the condition of an existing property and related ancillary structures & amenities (a/k/a Property Condition Assessment). It identifies aspects of the property's physical condition (at the time of the on-site observation) which require immediate and/or near term repair and/or replacement; it also provides an estimate of "Reserves for Replacement" required over a 10 or 12 year time line (life of loan) by building and improvement category and type. In addition, a photo record of the inspection is provided.

The typical building systems & components addressed include:
Approach & Access
Site Improvements
Building Superstructure & Exterior
Building Interior
Building Systems
Conveying Systems
Code Compliance
Amenities & Ancillary Structures
Machinery & Equipment / F, F, & E (if applicable)

Services performed: LQA will prepare a succinct, comprehensive report, based on its expert review (as available) & analysis of the:

Physical Building Structure (including all systems listed above)
Rent Roll
"As-built" plans
Recent Building Systems Inspections
Occupancy Permit
Appraisal Report
Environmental Report
Previous Structural Report
Property Management Contract
Relevant Warranty Information
Maintenance Reports & Logs
Insurance Certificates
Recent Utility Bills
Limited Interviews with property management/site personnel
Limited Interviews with Tenants
Limited Interviews with municipal authorities

Report Size: 20 +/- pages + photos & exhibits
Typical Turnaround Time: 7 - 10 business days
Typical Price Range: $1,250 - $3,500
Typical Users: Banks, Thrifts, Non-bank Financial Institutions, SBA Lenders, Insurance Companies, Pension Funds, REIT's, Building Purchasers, Municipalities, Master Servicers, Special Servicers, Mortgage Bankers