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Apartment Building & Complex Due Diligence

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A properly developed due diligence program can yield significant cost savings to buyers in terms of liabilities avoided and adjustments to a particular transaction if information from the due diligence investigation is used properly and in the early stage of the transactional process.

Whether you're buying your first building or own or manage hundreds of units all over the country, we are the only source you need for all the due diligence services you need everywhere in the USA.

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DUE DILIGENCE FOR APARTMENT AND CONDOMINIUM PROPERTY

  • Any size building or complex

  • Lowest possible cost

  • Fast, expert service

  • We serve your city

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Inspection Today ---
Saturday, September 20, 2014
report on your desk next week

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We work with owners, buyers, sellers, lenders and attorneys to design and conduct a cost-effective due diligence strategy to achieve your two main goals:

  • Minimize legal, financial and business risk

  • Maximize investor value

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This page contains information on due diligence apartment building and property inspection
and environmental assessment

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INFORMATION AND ADVICE FROM FREDDIE MAC AND FANNIE MAE

At a industry event in Scottsdale, Arizona, a representative from Freddie Mac spoke about efforts to fund multi-family property deals in the face of tight credit conditions. Although Freddie Mac is issuing loans only under tightened standards, it and Fannie Mae are the most active lenders closing multifamily loans. The Freddie Mac representative referred to the "Dark Age of Lending" in 2006 and early 2007, when “most any deal would work." Since then, lenders have significantly tightened their underwriting across the board to thoroughly understand environmental risk before extending credit. In terms of the forecast, Freddie Mac funded 1,820 loans last year at a volume of $24.3 billion, and is expected to fund another 1,500 worth $18 to $20 billion this year. 

Asked to provide some suggestions for due diligence reports, the Freddie Mac representative advises that you should select a professional who will provide true "consulting" including giving recommendations to clients, lenders and attorneys along with advice for how to manage any environmental risks.  At Due Diligence Inspection & Assessment Services we make the effort to know the ultimate user of the due diligence report and understand their needs and requirements. 

Due Diligence Inspection & Assessment Services understands that the needs of borrowers, brokers, lenders and attorneys may vary and we incorporate the needs of all parties into a single comprehensive report, and whenever necessary we go beyond that to provide additional specific recommendations and advice separately to borrowers, brokers and attorneys.  We'll do whatever it takes to expedite loan approval and completion of the purchase and sale transaction.

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APARTMENT BUILDING & PROPERTY INSPECTION

Due Diligence Apartment Building & Property Inspection is a comprehensive investigation of the building structure and operating systems and the site.  We inspect service areas, common areas and representative apartments and the entire property to its limits. Included in our inspection protocol are:

  • Structure – concrete, steel and wood components

  • Building envelope – roof and sidewalls including windows and doors

  • Interior finishes – floors, walls and ceilings

  • Heating, ventilation and air conditioning

  • Electrical system and components

  • Plumbing system and fixtures

  • Fire suppression and life safety systems

  • Accessibility issues 

  • Landscaping including walks, drives, parking areas and planted areas

  • Storm water drainage 

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SCOPE OF WORK

The initial concern to be addressed by Due Diligence Commercial Building & Property Inspection is current condition.  The inspector is called upon to investigate, assess and report on the condition of all structural components and all operating systems as well as fire suppression and life-safety systems and equipment.  Drives, roadways, parking and landscaping are also inspected and the inspector walks the parcel looking for signs of hazards or hazardous conditions on the subject property and on adjacent properties.   

For each item that is inspected it is the inspector’s intention to do the following:

  • Establish suitability for use 

  • Report on the need for repair or replacement

  • Recommend upgrades and improvements including energy use issues 

  • Establish remaining serviceable life expectancy 

  • Establish inspection and maintenance routines for your use during ownership/occupancy of the building.  

Our Due Diligence Commercial Building Inspection Protocol is designed to provide you with the information needed by you, your broker and your real estate attorney prior to finalizing your purchase contract or lease agreement and also to assist you in planning for operating costs by forecasting required structural and equipment maintenance routines and schedules.  The inspector will estimate remaining useful life of major components and discuss the two replacement strategies which are to replace items when they cease to be functional or to schedule replacement in advance.  The latter is helpful when failure of a building component would cease or slow down operations, damage equipment or inventory or make the building or a portion of the building uncomfortable or unfit for occupancy.

                                                                                             NEW PAGE   Capital Expenditure Reports

 

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CUSTOMIZED REPORT

We'll customize your Apartment Building & Property Inspection Report to fulfill your needs and meet your expectations on time and on budget.

 

 

We accept all major credit cards

ORDERING INFORMATION

 CONTACT US BY e-mail  OR CALL US AT  585-738-5080

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YOUR DUE DILIGENCE BUDGET

We will work with you to design your due diligence apartment building inspection and environmental assessment to meet your needs and budget.  While too little information will not suit your purposes we work hard to not over-design your inspection and assessment to keep assessment costs in line.  You can be assured that every assessment we do will include some information that you weren't expecting because we approach each assignment with a 110% attitude - we are committed to providing superior value.  Building inspection and environmental assessment services are available individually or together and we are able to offer outstanding discounts on combined services. 

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CONTACT US

You can contact our Senior Inspector with any questions you may have.
Call Edward Devine directly at (585) 738-5080.

You can also request a quote by e-mail and we'll respond promptly.

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ENVIRONMENTAL ASSESSMENT

Phase 1 Environmental Assessment is completed according to the stringent standards necessary for you to qualify for 42 U.S.C. § 9607(q) contiguous owner property owner liability protection, the bona fide prospective purchaser liability protection protection and the innocent landowner defense under the Comprehensive Environmental Response, Compensation and Liability Act, as amended, 42 U.S.C. § 9601 et. seq. (CERCLA), should they ever be needed.

You wouldn't be surprised to hear about a property in New Jersey contaminated by an underground plume extending from a nearby chemical plant or a building in Texas constructed on an abandoned oil-and-gas field or a Maryland building owner held liable for the environmental cleanup of leaking underground storage tanks left in the ground when a gas station vacated the property years ago.  You may be surprised to learn that each of these properties is a residential property.

Environmental contamination doesn't affect industrial property only.  Apartments, condominiums and even single-family neighborhoods cannot be assumed to be free of environmental defect.  Many residential properties are built on recycled land that may have had an industrial, commercial or agricultural use in the near or distant past and environmental issues regularly arise on both new and existing residential properties, even if the property has been residential for as long as anyone can remember.

In recent years many real estate investors and even banks and other commercial lenders assumed that apartments, condominium buildings and individual condo units as well as land for single-family home development were either exempt from environmental threats or at low risk for environmental liability and required only a minimum level of due diligence.  This is a risky assumption especially considering that the properties and environmental problems listed above are only a few examples of the level of environmental risk and liability that have accrued to new owners of residential properties.

Some of the commercial real estate brokers involved in the above transactions mistakenly believed that environmental risk is proportional to the asset value of real estate.  When interviewed they said it was a common assumption that low cost properties bear little environmental risk and that in the event that contamination was found cleanup costs would be low. 

In reality cleanup costs often exceed the value of a property and the presence or prior presence of a gas station, drycleaner or other common polluter nearby can spell big trouble for property owners.  The potential for financial devastation as a result of litigation related to tenant illness is compounded by loss of rent when tenants vacate apartments over health concerns and it becomes difficult if not impossible to rent or sell the property.     Read more about Phase 1 Environmental Assessment

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OUR QUALIFICATIONS

Our Senior Inspector is uniquely qualified to the task of Property Condition Assessment.  With university degrees in architecture, engineering and post-university training in building inspection as well as 24 continuous years of experience in all 3 disciplines you can expect a broad and in-depth assessment and report.  While architects, engineers and building inspectors all approach a property from slightly different perspectives, our senior inspector is uniquely qualified to view your property from all three perspectives. 

Over the past 24 years our Environmental Professional has continued his education beyond university, served as an environmental laboratory director and performed hundreds of environmental assessments and is a consultant to banks and other lenders, brokers, attorneys, real estate owners, buyers and sellers.

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USA Due Diligence Inspection & Assessment div. Lifespace Corporation on LinkedIn

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We accept all major credit cards

ORDERING INFORMATION

  CONTACT US BY e-mail  OR CALL US AT  585-738-5080

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INSPECTION & ASSESSMENT STANDARDS

Due diligence on land for development of multiple and single family residential building requires Phase 1 Environmental Assessment and  Vapor Encroachment Survey.  Due Diligence for existing apartment and condominium buildings and individual condo units includes Phase 1 Assessment, Vapor Intrusion Assessment and a complete Commercial Building & Property Inspection or Property Condition Assessment.  ASTM standards of practice and Due Diligence Inspection & Assessment Services' dedication to a protocol designed exclusively for residential property assure you that the standard of appropriate inquiry (due diligence) has been met and that you qualify for the innocent landowner defense* should it ever become necessary.

Phase 1 Environmental Assessment is completed according to the stringent standards necessary for you to qualify for 42 U.S.C. § 9607(q) contiguous owner property owner liability protection, the bona fide prospective purchaser liability protection protection and the innocent landowner defense under the Comprehensive Environmental Response, Compensation and Liability Act, as amended, 42 U.S.C. § 9601 et. seq. (CERCLA), should they ever be needed.

Due Diligence Inspection and Assessment Services does not inspect single family homes.  For home inspection please  visit The A Tech ® A Team ® Rochester Home Inspector Network .

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www.usaDueDiligence.com
© 1996 - 2014 Lifespace Corporation, All Rights Reserved

 
 

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Our Pricing Policy

Cost should never be the only consideration but we know that cost is an important consideration.  We price each project individually in order to deliver the highest quality service at the best possible price.  

Unlike firms that offer a wide range of engineering, architectural services and environmental services firms we specialize in Phase 1 Environmental Assessment, Vapor Encroachment Survey, Environmental Records Search & Risk Assessment and Property Condition Assessment and Capital Expenditure Reports.  We focus our comprehensive environmental, architecture, engineering, construction and financial experience on the tasks of environmental risk assessment, property condition assessment and cost projections.  From this focus we are able to maximize our efforts, resources and systems, reducing our cost basis and providing you with the finest service at the fairest price.  

Our goal is quality, speed and price in that order and we deliver on all three.

We understand that protection from environmental liability and your ability to effectively manage building maintenance and repair costs depend on thorough inspection and assessment, and timely completion of the real estate purchase or lease transaction requires prompt service.  We're an employee-owned firm and take pride in our work.  We've been in business since 1985 and will be honored to put our 27 years experience to work for you.

We provide a full suite of services from coast to coast and never charge extra for travel outside our service area because everywhere is in our service area.

We offer group pricing discounts if you have any combination of  Phase 1 Environmental Assessment, Environmental Site Assessment (ESA), Vapor Intrusion Assessment (VIA), Commercial Building Inspection or Industrial Building Inspection or Property Condition Assessment (PCA) projects to be done at the same time.

We offer volume discounts if your company is planning several Phase 1 Environmental Assessment, Environmental Site Assessment (ESA), Vapor Encroachment Survey (VES), Commercial Building Inspection or Industrial Building Inspection or Property Condition Assessment (PCA) projects over the course of a year. 

We offer referral discounts.  We promise to meet your exceed all your expectations and when we receive an order as a result of your referral we'll discount your next order. 

Due Diligence Inspection & Assessment Services division of Lifespace Corporation
Edward Devine, Principal - Senior Consultant     

 

                                                                                                                CONTACT US BY e-mail  OR CALL US AT
                                                                                                     585-738-5080

 

Thank you for visiting usaDueDiligence.com an industry leader in Phase 1 Environmental Assessment, Environmental Site Assessment (ESA), Vapor Encroachment Survey (VES), Commercial Building Inspection and Industrial Building Inspection and Property Condition Assessment (PCA).

 

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