Property Condition Reports

Third-party site visits assessing asset and property condition for Lending Institutions

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Property Condition Reports Help Lending Institutions and their Appraisers

TrendSource OnSite Inspections offers a wide range of Property Condition Reports to assist lending institutions and appraisal companies in evaluating both commercial and residential properties when considering an application for refinance.

When an owner attempts to refinance a residential or commercial property, lenders must ensure the property is in good condition and, in some cases, that described expansions and improvements have been implemented. This responsibility falls to licensed appraisers, whose work can be supported in the field by Inspectors performing onsite visits. TrendSource Property Condition Reports add efficiencies to lending intuitions’ due diligence, streamlining their efforts by supporting their work in-field.

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Property Condition Report Scopes, From Drive-By to Interior Inspections

TrendSource offers a variety of Property Condition Inspection scopes ranging from Drive-By to much more exhaustive Scopes that include floorplans with measurements. The base level Property Condition Report remains the Drive-By, which confirms a property’s address and external condition. The report includes exterior photographs of the property, providing visual documentation of the property’s condition as well as observational. These reports help lenders and their appraisers evaluate the loan application.

Yet Property Condition Reports can be much more in-depth. In fact, they encompass any combination of the following:

  • Exterior Photos
  • Exterior Measurements
  • Interior Measurements
  • Interior Photos
  • Property Floorplan Sketches

Furthermore, Property Condition Inspections can be executed at the following property types:

  • Residential Properties
  • Commercial Properties
  • Vacant Lots

TrendSource ensures that lending institutions and their appraisers get exactly what they want, no more, no less. That’s why we work with our clients to ensure they find the Inspection scope that is right for them and their needs. Reach out to an Inspection Specialist to find the right scope.

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How TrendSource Does Property Condition Reports

TrendSource offers a series of increasingly exhaustive Property Condition Report scopes. These range from a Drive-By to what TrendSource calls a “Scope E” Property Condition report, which includes measurements and sketches of floorplans.

Owing to our nation-wide network of Inspectors, TrendSource can offer any type of Property Condition Inspection anywhere in the United States and its territories. Our Inspectors and Quality Assurance Team ensure the Report is accurate and on-time, helping financial institutions and their team of appraisers evaluate the condition of properties under refinance.

Lending institutions can confidently offer refinancing options so long as they have appropriate assessments and documentation of the property’s condition and value. TrendSource Property Condition Reports help them achieve this.

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