When funding the purchase of an improved property, the condition of the improvements can be determined in an effort to minimize the exposure of the financial institution. A Property Condition Assessment includes the following:

• Visit to the Site by a Trained Professional
• Interview with the Current and Previous Maintenance Personnel
• Review of in place Building or Site Permits
• Review and comparison to Plans and Specifications
• Review and Analysis of:
  • Building Structural Systems
  • Site Utilities
  • General Handicapped Accessibility
  • Mechanical Systems
  • Electrical Systems
  • Plumbing Systems
  • Roofing Type and Installation
  • Exterior Veneers and Sealants
  • Opening, Doors, and Glazing
  • Interior finishes
  • Site Improvements and Landscaping
  • A Capital Replacement Schedule Outlining the cost of repair or replacement of Major Equipment or Systems over the life of the loan (current dollars and adjusted for inflation)
• A Budget describing expenses to replace or repair the immediate problems
• A Budget Schedule to allow for future expenses for items which have or will reach their expected useful life.