Building Condition Assessments
Based upon the information provided through our Building Condition Assessment Services, LePatner equips clients to negotiate successfully and to confidently make decisions about the acquisition or sale of commercial, institutional and residential properties.
LePatner’s Building Condition Assessment reports have proven invaluable to our clients in multiple business situations:
- For property refinancing, our reports can signal a “clean bill of health”
- For property valuation, our reports can identify the need for future capital improvements and operations expenditures
- For property acquisition, our reports pinpoint those building systems that require repair, replacement, or upgrade and provide accurate cost estimates of the necessary work.
- For property sale, our reports identify potential building weaknesses that could devalue marketability before the asset is placed on the market
For each asset, LePatner identifies a select team of independent technical consultants with the proven ability to expeditiously complete a full report, often within three to four weeks of initial contact with the client.
Consultants typically retained may include:
- Structural and Exterior Envelope Engineers
- MEP and Life Safety Engineers
- Technology and Security Consultants
- Commissioning Engineer
- Code Consultants
- Vertical Transportation Consultants
- Environmental Consultants (for Phase I Environmental Site Assessment)
- Sustainability Consultants
- Others as required by the specific project
Throughout the project, LePatner ensures that all consultants complete their duties in a confidential, timely, and accurate fashion. Confidentiality is assured as all team members are retained by our law firm as counsel to you, the client. LePatner typically performs the following work in connection with our reports:
- Research and recommend experienced consultants recognized by their peers as leaders in their own fields
- Prepare confidentiality agreements and ensure their execution by each member of the Consultant Team
- Retain the Consultant Team on behalf of the client; all Consultant Team fees are billed as a direct expense with no markup
- Coordinate and attend site visits and inspections with Consultant Team members
- Research Certificate of Occupancy and code violation history
- Make recommendations for repair, replacement, or upgrade of observable deficiencies, along with cost estimates
- Review, evaluate, and assess the Consultant Team’s individual reports
- Compile the Report, complete with executive summaries of the individual consultants’ findings and recommendations, the identification of potential problematic areas or systems, and an overall summary
Working in conjunction with the Consultant Team, LePatner will set forth all critical items that need to be addressed to ensure the client’s informed evaluation of the building. The final report is always prepared and coordinated under the confidential auspices of LePatner.
LePatner’s thirty years of experience serving the real estate and professional design community allow us to quickly identify and retain the right consultants to evaluate your specific building. Our consultants work to your schedule and produce detailed, accurate reports that have been praised by clients as first-class and highly detailed.