Chances are you were thinking about purchasing or rezoning a property, and you were required to conduct a Phase I ESA. If you have no idea what a Phase I ESA is, it is used as a tool to ensure due diligence before you purchase a property and can prevent a bad investment. An ESA […]
Building Condition Assessment (BCA), otherwise known as Property Condition Assessment (PCA), is usually performed on commercial buildings. The process includes a non-intrusive inspection of the state of the property based on its structure and systems. Building Condition Assessments are usually required when purchasing or selling commercial real estate or even residential properties such as multi-unit buildings. Typically, […]
Quantity Surveyors are responsible for the financial, contractual, and commercial management of a construction project both before and during the construction process. The duties of a Professional Quantity Surveyor may differ depending on the size and type of the project. The successful accomplishment of a project mainly depends on the proper utilization of capital and time. A […]
The purpose of the Property Condition Assessment PCA, popularly called Building Condition Assessment (BCA), is to observe and report, to the extent feasible, on the physical condition of the subject property. The standard guide is ASTM_2018-15 is Baseline Property Condition Assessment. The PCA should have four components: Documentation Review and Interviews Walk-Through Survey Preparation of […]
Suppose you are a commercial property owner looking to buy or sell your property. Before finalizing your contract, a Phase I Environmental Site Assessment is strongly recommended if it wasn’t already made a requirement from the bank handling your primary financial transactions. A Phase I ESA is likely the cheapest form of due diligence and […]
As a property investor, determining the type of commercial/industrial building best suited for your business is already a challenging task. Various criteria must be taken into account while picking the property of your choice. The most important one is choosing a lot that fits your business needs the most as it is volatile to the […]
Generally speaking, contamination occurs when years of improper industrial activities have taken place on-site. This could be from unsuitable waste disposal methods or even pollution from agricultural activities. Soil contamination can also occur with the presence of underground storage tanks that leak. If the subject site had a landfill in the past, it also concerns […]
Environmental assessments are usually conducted to obtain information about the subject property and analyze its historical uses. These steps are taken to ensure that there is no potential for contamination. The assessments are also conducted to minimize any risks to human health or the environment. This article focuses on on-site inspection, precisely what a Preliminary […]
Environmental assessments are an essential step during any financial transaction of a property. Phase I ESA reports are usually required to determine the preliminary environmental liabilities associated with the subject property. The assessment is carried out to find if there is potential contamination. If contamination is suspected, then a Phase 2 Environmental Site Assessment will […]
Firstly what is property condition assessment (PCA)? PCA is a non-destructive method of inspection to highlight the current conditions of a property. A professional will do a walkthrough survey and perform property research based on interviews and document review. The professional will provide a detailed property condition report (PCR) conforming to ASTME_2018-15 standard, elucidating the […]