Property Condition Assessments

This review provides the Lender with a condition analysis of an existing property. The review is comprehensive in nature and typically takes several hours of research and reconnaissance. The OCC Handbook on Commercial Real Estate Lending indicates that periodic property inspections should be performed to verify that property is being adequately maintained, and that tenants and vacancies are being accurately reported. Reviews include but are not limited to:

• Detailed internal and external site review of the project

• Review of the design documents if applicable

• Review of the project budget

• Review of contracts stipulating upgrades, changes, maintenance items and improvements to be made

• Determine capital improvement needs

• Determine current maintenance issues

• Freddie Mac and Fannie Mae PCA Inspections