Property Condition Assessments and Cost to Cure Estimates are generally conducted for income property purchasers, owners, managers, and associations.
This assessment provides the basic information about a property that is used in several of the reports described elsewhere. This assessment includes a complete review of the property, building components and infrastructure. Each component of the property is reviewed, evaluated, photographed and quantified (as to size, area and number). The "as observed" condition of each component is then described in detail. This assessment includes a summary of found conditions, anticipated life-span for each component and the remaining years of useful service life that each component is anticipated to provide. Access, egress, structural, infestation, hazardous materials, design, maintenance and component failure are documented and photographed.
The Cost to Cure is based upon the findings of the Property Condition Assessment described above. This report provides an estimate of the costs in today’s dollars to repair or replace the problems found on observed components and presents the net financial effect these repairs will have on the subject property.
Cost to Cure Estimates can be projected in today's dollars (in the case where the "cost to cure" will be used in a purchase negotiation) or in inflated (future) dollars, based upon the cost to replace an item at a future estimated time of failure.
