PROPERTY CONDITION ASSESSMENT
SCOPE OF SERVICES
The Consultant will employ a qualified field observer who will conduct a Walk-Through Survey of the subject property and prepare a PROPERTY CONDITION ASSESSMENT (PCA) that contains the Consultant’s observations and opinions as to the subject property’s condition. The Walk-Through Survey is (a) limited in scope, (b) not a building code or ADA (Americans with Disabilities Act) compliance inspection, and (c) conducted in accordance with all conditions and provisions agreed to between parties. The Walk-Through Survey is conducted during the field observer’s site visit of the subject property and consists of non-intrusive visual observations and survey of readily accessible, easily visible components and systems of the subject property. Concealed physical deficiencies are excluded. The Walk-Through Survey is performed in accordance with the most current edition of “ASTM E-2018 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process”, with the exception of Section 7 - Document Reviews and Interviews (Section 7 in its entirety and all related subsections), subsection 8.4.8 -Vertical Transportation and Section 9 - Opinions of Probable Costs (Section 9 in its entirety and all related subsections), which are excluded from this Walk-Through Survey and PCA. Copies of this document are available upon request. The Walk-Through Survey is performed by a field observer who will report the conditions and symptoms observed, but not the causes, remedies, and/or costs of correction.
THE WALK-THROUGH SURVEY
The Walk-Through Survey should not be considered technically exhaustive. In the Walk-Through Survey, the field observer will not: remove floor or wall coverings, move furniture, fixtures, equipment or stored items, open walls or perform any type of destructive testing. The field observer will not dismantle equipment, operate shut-off valves, engage pilot lights or survey systems that have been shut down. Any general comments which may appear about these systems and conditions are provided as a courtesy only and DO NOT represent or form a part of the Walk-Through Survey. Additionally, the field observer will not survey items inaccessible because of soil, vegetation, walls, floors, carpets, furnishings, fixtures or equipment, water, ice, snow, or any conditions that would present a hazard to the field observer.
The Walk-Through Survey and resultant PCA are only a part of the overall Due Diligence process that should be undertaken or contracted for by the Client. The PCA recites the general physical condition of the property AT THE TIME OF THE WALK-THROUGH SURVEY ONLY. It is usual and customary for the Client (or the Client’s employees and/or other consultants) to perform Due Diligence items that are not included in the scope of the Walk-Through Survey, including, but not limited to, document review, tenant and staff interviews, permit and zoning research, code compliance, insurance risk assessments, status of life safety and equipment inspections, environmental studies, energy audits, determination of costs and procedures to repair deficiencies indicated in the PCA, and ongoing maintenance costs. The CLIENT is advised to obtain a separate Phase One Environmental Assessment (ASTM E-1527), performed by others.