Property Condition Inspection (PCI)
Quickly identify the condition of your asset.
Clear Capital’s Property Condition Reports (PCI) are a cost-effective, compliant way to gain quick, accurate perspective of your asset’s current state. Performed by a Clear Capital independent local market expert, the PCI provides a description and analysis of the subject property and neighborhood condition.
Our clear, intuitive form’s Risk Summary visually highlights factors that could influence your property’s marketability, such as repairs, zoning changes, conformity to neighborhood or externalities. We even take inspections one step further with itemized repair grids and estimated costs when a more detailed analysis is warranted. Our IAG compliant solution also includes extensive property photos, current and projected use, local market conditions and an electronic signature of the broker or agent who prepared the report.
When you need a compliant, cost-effective evaluation, you can combine the PCI with an AVM in lending and credit decisions.
- Clear Capital’s boots-on-the-ground network of geographically competent brokers and agents can be at a site within hours.
- Local market expertise provides the most accurate description and analysis of the subject and neighborhood condition.
- IAG compliant report includes condition, zoning, current/projected use, electronic signature and property photos.
- Easy-to-read report presents Potential Risk Summary front-and-center with one Risk Flag to highlight factors which could influence a property’s marketability.
- Interior and Exterior report options; Interior reports and itemized repair grids are available for more in-depth analysis.
- 100% human quality assurance ensures report details support the conclusion.
|Potential Risk Summary|
|Our Risk Summary distills the analysis into one easy-to-use Risk Flag that quickly identifies your asset’s potential risk.|
|Subject information meets IAG requirements with commentary on current and projected use and zoning.|
|Condition and Marketability|
|Subject condition is described in absolute terms, Poor, Fair, Good, to avoid confusion and meet IAG requirements. Other IAG mandated fields include current zoning violations and potential changes, subject conformity to its neighborhood, condition of neighboring properties and negative and positive externalities. Additional fields indicate whether significant repairs are needed.|
|IAG requires the broker or agent who prepared the report to sign off on their analysis with an electronic signature.|
|If significant repairs are indicated in the Condition and Marketability section, a detailed repair grid can be ordered with a detailed itemization of repairs and associated estimated costs.|
|Photos, Aerial and Satellite Imagery|
|Photos, aerial and satellite imagery and mapping validate the subject location and condition of the property as described in the broker narrative. If, in the narrative, items are addressed that could either positively or negatively affect the asset’s marketability, photos must accompany the report.|
Clear Capital’s compliant Property Condition Inspection identifies a subject property’s physical condition and characteristics:
- As an evaluation on values lower than $250K or for HELOCs when coupled with an AVM.
- As a quick and affordable way to update your asset’s current condition (outside of a major disaster) and confirm your asset is in average condition relative to the neighborhood.
- To identify factors that could affect the marketability of your asset.
- To help update value on properties that are vacant or in default.