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Property Evaluation Form for the United States

Property Evaluation Form Template for United States

A Property Evaluation Form is a standardized document used in the United States for assessing and documenting the physical condition, specifications, and compliance status of real estate properties. It follows federal and state-specific regulations, including Fair Housing Act requirements and USPAP standards. The form provides a comprehensive evaluation of property characteristics, building systems, site conditions, and relevant compliance factors, serving as a crucial tool for real estate transactions, lending decisions, and property management.

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What is a Property Evaluation Form?

The Property Evaluation Form serves as a critical tool in U.S. real estate transactions and property management. This document is essential when detailed assessment of a property's condition, specifications, and compliance status is required, typically during property purchases, refinancing, insurance underwriting, or major renovations. The form encompasses comprehensive evaluation criteria aligned with federal regulations, state-specific requirements, and professional standards (USPAP). It provides structured documentation of physical characteristics, building systems, environmental factors, and compliance status, serving as a reliable reference for decision-making in real estate transactions and property management.

What sections should be included in a Property Evaluation Form?

1. Property Identification: Basic information about the property including address, legal description, and parcel number

2. Physical Characteristics: Details of property size, construction, age, and condition

3. Building Systems Assessment: Evaluation of mechanical, electrical, plumbing, and HVAC systems

4. Site Conditions: Assessment of lot, landscaping, and external features

5. Compliance Status: Current compliance with zoning, building codes, and regulations

What sections are optional to include in a Property Evaluation Form?

1. Environmental Assessment: Detailed environmental review for properties with potential environmental issues or when required by lender

2. Market Analysis: Analysis of property value and market conditions, used when evaluation includes value assessment

3. Historic Preservation: Special considerations for properties in historic districts or with historic designation

What schedules should be included in a Property Evaluation Form?

1. Photograph Schedule: Documentation of property condition through photographs

2. Floor Plan Drawings: Detailed layouts of the property

3. System Inspection Reports: Detailed reports on specific building systems

4. Environmental Test Results: Results of any environmental testing performed

5. Property Documentation: Copies of relevant property documents, permits, and certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Document Type

Evaluation Form

Cost

Free to use
Clauses






























Industries

Fair Housing Act (FHA): Federal law that prohibits discrimination in real estate transactions based on race, color, religion, sex, national origin, familial status, or disability

Americans with Disabilities Act (ADA): Federal law requiring properties to be accessible to individuals with disabilities and prohibiting discrimination based on disability

Real Estate Settlement Procedures Act (RESPA): Federal law governing real estate settlement processes and associated service fees

Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed

State-Specific Real Estate Laws: Individual state regulations governing property transactions, including specific disclosure requirements and property rights

Local Zoning Ordinances: Municipal regulations determining how properties can be used within specific zones or areas

USPAP Standards: Uniform Standards of Professional Appraisal Practice providing quality control standards for real estate appraisal analysis and reports

EPA Guidelines: Environmental Protection Agency regulations governing environmental hazards and requirements for property evaluation

Lead-Based Paint Regulations: Federal requirements for disclosure of lead-based paint hazards in properties built before 1978

Building Codes: Local and state regulations establishing minimum standards for construction, maintenance, and occupancy of buildings

Fire Safety Regulations: Standards and requirements for fire prevention, detection, and suppression systems in properties

IAAO Standards: International Association of Assessing Officers guidelines for property assessment and evaluation practices

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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