Property Condition Assessment

Property assessment and due diligence evaluation are necessary steps in the purchase and development of existing buildings. The discovery of failed and faulty construction, non-code compliant conditions, inadequate or underperforming building systems are potential liability issues that will affect the success of a real estate investment. FitzGerald’s extensive experience in adaptive reuse and renovation of buildings allows us to effectively assess and evaluate the condition of a building and identify the issues that can help mitigate your risk in the investment.

FitzGerald’s property condition assessment services are based on industry assessment standard methodologies to observe and report on the physical condition of the property and include the following:

• Review available existing documents, including drawings, maintenance records, outstanding code violations, etc.;
• Conduct interviews with building management and maintenance staff to help identify the physical deficiencies, maintenance & repair issues of the property;
• Perform a walk-through survey of the property, examining all areas of the site and preparing photographic documentation of the existing conditions;
• Identify the various building systems; document specific evidence of material deterioration and identify potential causes;
• Estimate the remaining useful life of building components;
• Provide remedies for necessary repairs and recommendations for issues to be addressed;
• Provide a comprehensive written report summarizing the findings and recommendations of all the above.

Whether investing in and acquiring new properties or managing existing ones to prepare for future service, FitzGerald’s Property Condition Assessment Services are a valuable resource for building owners, managers, developers, lenders and receivers.