What’s a PCA?

Have you ever sold or purchased a house? Have you ever heard of a “PCA?” How about a Property Condition Assessment? What exactly does PCA mean, anyway? If you are a banker, builder, developer, architect, or engineer, chances are pretty good that you know what a PCA is. For those  readers that aren’t familiar with the term, let’s get down to the nitty-gritty.

A Property Condition Assessment, or PCA, is just a more detailed version of a home inspection. PCA’s are a great way for property buyers and sellers to understand the value of the property they are dealing with and what condition the property is in, according to industry professionals. A PCA  is “conducted to report on the condition of  a building during a property transaction,” according to Energy Finance Analytics, LLC. The report will analyze the current condition of the property, and will include recommendations for work that should be done on the property and potentially life-threatening issues that may be involved with the property.  The overall purpose of the assessment is to help the client understand the total condition of the property being reviewed. It can also be used to determine the value of the property in question.

A PCA may be utilized by a seller, a buyer, a lender, or an investor. A PCA will most often include analysis of areas such as landscaping, topography, drainage, roofing, heating/ventilation/cooling systems, electrical and plumbing systems, building material and finishes (windows, doors, walls, foundation, framework), utility connections, ADA accessibility, and records of expenditures and past repairs. Color photographs and descriptive text accompany the report, helping the client further understand the scope of building materials and components, deficiencies within the property, and safety and code violations. Some companies also offer supplementary analyses that can accompany the Property Condition Assessment, such as LEED and sustainability recommendations.

This post was written by a contributor for Energy Finance Analytics, LLC., proudly conducting Property Condition Assessments (PCA) in accordance with the ASTM E2108 Standard. 

 

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