Pre-Purchase Inspections / Property Transaction Due Diligence Screening
Argus Environmental follows the American Society of Testing and Measuring (ASTM) Standard E2018-01 in the conduct of our evaluations. The purpose of this ASTM guide is to define good commercial and customary practice for conducting a baseline property condition assessment of the improvements located on a parcel of commercial real estate by performing a walk-through survey and conducting research as outlined.
The goal of a property condition assessment is to identify and communicate physical deficiencies to our client. The term physical deficiencies means the presence of conspicuous defects or material deferred maintenance of a subject property's material systems, components, or equipment as observed during the field observer's walk-through survey. This definition specifically excludes deficiencies that may be remedied with routine maintenance, miscellaneous minor repairs, normal operating maintenance, etc., and excludes de minimis conditions that generally do not present material physical deficiencies of the subject property.
Typically, Argus Environmental’s scope of work includes document reviews, research, and interviews to augment the walk-through survey so as to assist our understanding of the subject property and identification of physical deficiencies.