Criterium Engineers' Property Condition Assessment is a comprehensive due diligence service designed to meet the objectives of your real estate portfolio, whether you represent a commercial real estate owner or manager, institutional investor or investment banker. Criterium Engineers works with clients to understand those objectives, to develop scopes and formats to serve your needs, and to deliver comprehensive and high quality property condition reports.
Our property condition reports contain information about a structure and its components which are vital to investment and financial decision-making. The property condition Assessment and corresponding report provide appropriate due diligence in a real estate transaction with regard to a property's physical condition. Furthermore, our property condition reports comply with and generally exceed industry standards which include the Standard and Poor as well as ASTM 2018. If neccessary to suit your special needs or time constraints, we can offer customized or abbreviated property condition reports and formats.
We realize that each client has a slightly different perspective that is often reflected in what they call the report.
- The investment community uses a Property Condition Assessment to budget reserves and sometimes negotiate with the seller.
- The government may use a Project Capital Needs Assessment to preserve the quality of housing over the term.
- Corporate owners need a Capital Needs Assessment to develop budgets and streamline operations.
- Community Associations require a Reserve Study to be able to properly assess owners for non-annual costs.
Criterium Engineers does not specialize in any one type of property condition assessment. Rather, we bring our broad expertise to each assignment to ensure the best possible outcome.
The scope of our investigation is designed to address the unique concerns and risk tolerance of our clients. We provide a list of current deficiencies and areas of deferred maintenance along with the cost to cure these deficiencies. At the end of our report is a table of capital reserve requirements. To learn more about what is included in our standard property condition report, please review our scope of services.