 Throughout the USA, IVI annually conducts thousands of PCAs of both one-off and portfolio assets. Since the days of the RTC in the early 90s, IVI has been at the vanguard of the mortgage securitization due diligence industry. Principals of the firm were contributing editors to Standard & Poor’s Criteria for Property Condition Assessments published in 1992, which was the first PCA standard created specifically for the emerging securitization market. Principals later co-chaired ASTM 2018-01 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process. This ASTM document is now the mostly widely used protocol for conducting PCAs in the United States.
A visual survey is conducted of pertinent systems such as site work, structural system, roofing, facades, HVAC, plumbing, electrical systems, and conveying systems. Observed significant physical deficiencies are documented and opinions of probable costs are prepared for necessary repairs or replacements. Depending upon the client’s requirements, modified replacement reserves can be prepared for salient systems and components requiring recurring replacement.
  At IVI we are not only sensitive to the time and due-diligence cost restraints in the very competitive CMBS marketplace, but we truly understand our clients’ position and requirements. We place an emphasis on service and keeping our client knowledgeably apprised of significant issues that may jeopardize or delay the closing. We take a pragmatic approach and strive to not only describe observed significant physical deficiencies in a manner understood by a potential mortgagee, but to develop solutions. With respect to client service, we consider our work done when you have closed the transaction.
Click for a copy of ASTM 2018-01 Standard
Guide for Property Condition Assessments:
Baseline Property Condition Assessment Process.
Click
Here
|
