Physical Needs Assessments
A major factor in underwriting or the acquisition of real property is the determination of existing physical condition. IPA provides a comprehensive and balanced consulting service which provides appropriate information tailored to each assignment.
We identify areas in need of immediate repair and items which are likely to require replacement. Reports are provided to conform with any established requirement: Fannie Mae, Freddie Mac, USDA-RD, Conduit or HUD. Customized reporting is available in every case.
IPA's Physical Needs Assessment or Property Condition Assessment service includes the following:
Complete visual inspection of a property with a description of site improvements and building components.
Identification of damage, deficiencies and deferred maintenance.
Replacement reserve analysis.
A review code or safety violations.
Identification of non-compliant ADA issues.
Preliminary cost estimates of any required repairs.
Future maintenance recommendations.
Jurisdictional agency review including zoning analysis, code violations, flood zone check and others.
Extensive digital photography. All repair items and observation notes are backed up with imaging that can be transmitted electronically