Executive Summary (PCR)

The executive summary is the most-read section and the one E2018 specifies most closely. It must carry a general description of the property (use, size, age, location, construction type, occupancy) and of the engagement (consultant, user, the user's position in the transaction, purpose, site-visit date); findings and opinions covering overall condition, the level of preventive maintenance, recent and pending capital work, and a schedule of material physical deficiencies with remedies and costs; the deviations from the guide; disclosure of the relationship between the consultant and the field observer where relevant; and recommendations for further study.

In practice the findings section is a systems-summary table and a copy of Table 1, followed by a reserve summary when Table 2 exists. Lenders read this section and the tables and skim the rest. See how to write a PCR.

Related: property condition report, deviation from the guide.