Property Condition Report (PCR)

The property condition report is the document that records the assessment. E2018-24 prescribes its contents but not its format: an executive summary (general description, findings and opinions, deviations, consultant disclosure, further study), purpose and scope, the walk-through survey by system with a suggested remedy and a plain-language significance for each material deficiency, document review and interviews, additional considerations, qualifications naming the field observer and reviewer, limiting conditions and exhibits. Statements must distinguish what the field observer observed from what was reported by others or found in documents.

The section order in use across the industry comes from the sample table of contents in the 2008 edition of the guide, which the current edition no longer prints but which lenders still expect. See how to write a PCR.

Related: property condition assessment, executive summary, limiting conditions.