Property Condition Report: Understanding Your Real Estate Investment
Your most successful property transactions and investments are those where you are aware of the risks and have a clear understanding of the property involved. EBI Consulting's goal in completing a property condition report is to help you understand the risks and the property completely in a clear and unambiguous manner. Our architects and engineers provide the information you need to be confident in your decision-making process.
EBI Consulting has performed thousands of property condition reports (also known as property condition surveys, physical assessment reports, physical needs assessments, or engineering reports). Property condition reports provide reliable and detailed information on the building's operating systems, overall design, and architectural features. The purpose of the property condition report is to identify and communicate conspicuous defects or material deferred maintenance of a subject property's materials systems, components, or equipment as observed during a field observer's walk-through survey.
EBI Consulting’s property condition report experts follow the steps below when performing a survey for a property condition report:
Site Reconnaissance - EBI Consulting sends expert property inspection personnel to the site to evaluate the condition of the property and to identify specific issues for maintenance reserve budget estimates for replacement or repair actions. We rely on a comprehensive checklist, visual observations, review of available drawings, and interviews with operations and maintenance personnel.
Records Review - Available construction drawings and related documentation are reviewed by experienced architects/engineers. EBI Consulting reviews operations and maintenance procedures with the pertinent property personnel, and assesses property status relative to occupancy levels, safety systems, building codes, zoning, utilities, flood plain, and other appropriate issues.
Property Condition Report - EBI Consulting's reports present information you need to know in clear and concise language. The property description is comprehensive and supported by photographs and diagrams, and the summary section presents the findings in a user-friendly manner. Supporting data and cost estimates are well organized and easily referenced.
In addition to property condition surveys, EBI Consulting can also provide American Disabilities Act (ADA) compliance surveys, seismic evaluations, and other structural and engineering consulting services nationwide. Our expert teams provide comprehensive due diligence packages that reduce the need to seek multiple contractors, thus allowing you concentrate on the financial and business aspects of the associated transaction.
Other real estate due diligence consulting services provide by EBI Consulting include:
Learn more about EBI Consulting’s property condition report services by calling 781.273.2500 or emailing info@ebiconsulting.com. You can also view our sample projects, or request a proposal online.