INSPECTIONS
Each year Wachovia, as the servicer of your loan, is required to perform an annual property inspection. Property inspections are done at no cost to you and will be performed either by Wachovia personnel or by an independent third party property inspector. You, and/or your property manager, will be contacted by the property inspector two to three weeks prior to the anticipated inspection date to coordinate a time that will be convenient for you and/or your property manager and the property inspector. Property inspections generally take 2 – 3 hours.
On the date of the property inspection, in order for the property inspector to complete the property inspection you will need to provide the following items to the property inspector on the date of the property inspection:
- A copy of the most recent rent roll of the property detailing tenant names, lease commencement, expiration dates, and demised square footage;
- If the property is a Section 42 multifamily property, a copy of the most recent annual state certification; or
- If the property is operated as a federally and/or state assisted healthcare provider, a copy of the most recent and/or annual federal and/or state healthcare survey.
During the property inspection, the property inspector will be looking for any deferred maintenance on the property and any repairs that have been completed over the last year, so please make any and all invoices for work completed at the property available for the property inspector.
If you have any questions regarding the annual property inspection, please contact our customer service department at (800) 326-1334 or commercial.servicing@wachovia.com.
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