Property condition assessments are a vital step during the transfer of ownership of a commercial real estate property. Not only do they identify physical deficiencies, building code violations, and other issues with a building that may affect the purchase price, they project long and short term cost estimates associated with owing the property. Not only does this reduce risk of owning the property, but the commercial property owner gains a sense of accuracy when making short and long term financial decisions associated with the property in the form of a property condition report. Learn about the property condition assessment process, how they're associated with the ASTM E2108, and why they're such a necessary step in the transfer of ownership of a commercial property.