Most commercial property purchases would require a property condition assessment (PCA) as part of a legalistic or ownership due diligence process. In a residential setting, property condition reports (PCR) is a close equivalent to the PCA. Despite its simplicity of being just a from to fill, many people are unaware of its importance and that it plays a vital purpose in property handling.
PCA is an inspection that lenders require, prior to a purchase. It provides risk mitigation for the buyer and the lender. Furthermore, it could potentially be used to renegotiate prices based on the true condition of the property. The difference between a PCA versus a home inspection is due to the complexity of the investigation, as it includes HVAC, electrical, plumbing, roofing and other systems. A commercial property requires a much more detailed and knowledgeable investigation to ensure proper due diligence.
A property condition assessment includes an evaluation of the building, parking lots, landscaping, utilities, outbuildings, signage, and roads. It evaluates the current condition of those components.The PCA also estimates costs to correct any deficiencies and usually follow the latest relevant safety standards. Many lenders and buyers go beyond the required due diligence to understand future costs of ownership based on upcoming maintenance and repairs, as well as any deficiencies regarding building and accessibility codes.
An inspector is required to perform inspection for the PCA. Most likely, the inspector visits the site and spends several hours to a few days walking the building. The inspections carried out covers the components;
- Building envelope
- Structural systems
- HVAC systems
- Electrical systems
- Plumbing systems
- Interior finishes
Based on the inspection, he or she will write a report that will include:
- A brief description of each component
- An identification of deficiencies discovered
- A table of costs to correct the deficiencies
The process itself, from start to finish, will vary with time and it would be most ideal to have it completed faster. There is also the requirement for a good quality PCA to also have an accurate estimate in costings for the future. There are definitely many aspects which will influence the quality of a PCA.
Even reputable PCA providers vary in the level of service, speed of service, and number of disciplines their company brings to the table. To ensure a high end service and a good quality report, it is highly recommendable to utilize Bluebeam Revu. Here, we list a few methods on how utilizing Bluebeam Revu can aid with the PCA inspections and report generation.
- Ability to get on forms and documents quickly. Generally, most reporting commence with the use of standard templates or forms. Bluebeam Studio Projects will allow you to access these forms or templates easily from Cloud. This aids in organization and not missing out on requirements or aspects which needs inspections. The forms can also be accessed once back in office or shared with other personnel.
- Ability to provide accurate costing. Bluebeam Revu have the tools where you can make and personalize your construction cost estimator with the mark up lists. Instantly create tabs with relevant equations to have accurate costings tabulated by area space or quantity.
- Photo insertion and documentation. PCAs require a broad understanding of everything from architecture, to mechanical, electrical and plumbing systems. Most experienced inspectors will know where to look and it’s a general rule of thumb for them to have pictures as evidence for their reporting. Bluebeam Revu allows for multiple photographs to be attached to a drawing, and at the location of the layout drawing as well. Comments can be put alongside when required.
- Digital Signatures and Stamps. Progress status of the PCA needs to be tracked. Sometimes there are more than one person involved and there is a requirement to have the approvals of more than a person. Stamp approvals or sign off with the approvals and digital signatures available on Bluebeam Revu.
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