Name: Calibre Commercial Inspections
Address: 10400 Overland Road, Ste 250, Boise, ID, 83709, US
Telephone: +1-208-305-6245

Why it matters

Freddie Mac uses the report to set repair items and review replacement reserves over the loan term. The guide has timing rules, such as using a recent report for reserve changes. Lenders and borrowers should confirm the current guide before ordering.

Source: mf.freddiemac.com

Related terms

Property Condition Assessment (PCA): A property condition assessment is a baseline evaluation of a commercial property's primary improvements, built on a walk-through survey, document review and interviews, that identifies material physical deficiencies and opinions of cost to remedy them.
Repair Reserve: A repair reserve is money a borrower deposits at closing to pay for specific property repairs required by the lender, such as those listed in Freddie Mac's Letter of Commitment.
Replacement Reserves: Replacement reserves are funds a borrower sets aside, usually through regular deposits to a lender-held account, to pay for future replacement of building components.
Third-Party Servicing Inspection: A third-party servicing inspection is a physical review of a financed property by an independent inspector for a loan servicer, to document condition, maintenance and required repairs.

Full glossary

Freddie Mac Property Condition Report

Why it matters

Ready for your next inspection?