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Property condition assessments (PCAs) (also known as the property condition report, or PCR) are due diligence projects associated with commercial real estate.Commercial property and building inspections are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, financing or simply maintaining.
In the United States construction industry, contract agreements are usually written to allow the owner to withhold (retain) the final payment to the general contractor as "retainage". [3] The contractor is bound by the contract to complete a list of contract items, called a punch list, in order to receive final payment from the owner.
The additional cost to perform this assessment cannot be included in the amount requested in the loan and adds significant costs to the borrower. Freddie Mac/Fannie Mae Phase I Environmental Site Assessments are two specialized types of Phase I ESAs that are required when a loan is financed through Freddie Mac or Fannie Mae. The scopes of work ...
A construction-to-permanent loan — also known as a one-time, single-close or construction-perm loan — is a type of mortgage for those building a home. It funds the purchase of land and the ...
Construction cost management is a fee-based service in which the construction manager (CM) is responsible exclusively to the owner, acting in the owner's interests at every stage of the project. The construction manager offers impartial advice on matters such as: Optimum use of available funds; Control of the scope of the work; Project scheduling
This report is much longer than the condition report and looks in more detail at the property to report on the visual condition and maintenance needs of nine external elements of construction, nine internal elements of construction, seven services supplied to the building, and three key components of the grounds in which the property is sited.
Inspection and measurement of the thickness of the different layers of an electronic chip using THz and X-ray radiation. THz has the privilege of being non-ionizing (non-destructive) but the resolution of X-ray is higher. [2] Quality related in-process inspection/verification is an essential part of quality control in manufacturing.
Some building inspection expertises like facade inspections are required by certain cities or counties and considered mandatory. These are to be done by engineers and not by contractors. An example of a city that adopted this law is Quebec followed by a fatal incident that occurred due to negligence of the state of a facade. These inspections ...