Can’t Close Your Loan? It Might Be Your Missing Building Condition Assessment
- ENGIPRO
- Aug 18
- 3 min read
More property owners and developers in BC are facing loan delays—not because of credit issues, but because they didn’t submit the correct Building Condition Assessment (BCA) in time.
Banks and CMHC now require highly specific building documentation before releasing funds. If your lender suddenly asks for a BCA—or rejects your existing one—this article will show you:
Why that happens
What goes wrong with DIY or low-cost reports
How to fix the problem in time
What lenders in BC actually want in 2025
Why Lenders in BC Are Getting Stricter About BCAs
In 2025, lenders are tightening requirements due to rising building costs and deferred maintenance issues. A missing or generic report can trigger:
Loan delays or failed closings
CMHC loan rejections
Requests for additional appraisals or engineer letters
Deal renegotiations or lost interest rate locks
What Most BC Lenders Expect in a BCA Report
A building condition assessment for financing in BC usually includes:
Inspection by a licensed engineer (P.Eng)
Remaining useful life (RUL) chart
Class D capital cost forecast (10–30 years)
Immediate repair summary
Building photos & maintenance history
CMHC-compatible reliance letter
❌ What banks won’t accept:
Realtor-prepared “condition summaries”
Outdated or unsealed building reports
Strata minutes used in place of engineering analysis
The “Bank Rejected My Report” Problem (Real Story)
Client: Owner of a 24-unit purpose-built rental in Burnaby
Issue: Submitted a generic BCA from 2 years ago
Lender’s Response: Rejected; requested new report within 7 days or deal falls through
✅ ENGIPRO Solution: Mobilized site visit in 48 hours, delivered bank-compliant BCA in 6 days
✅ Result: Deal closed, client avoided $120,000 pre-sale contract default
How to Get a BCA Quickly Without Cutting Corners
If time is tight, here’s how to get your building condition assessment for financing ready fast:
Get a lender checklist – Ask what they need. If unsure, ENGIPRO can provide a pre-approval template.
Book a licensed engineering firm, not a general inspector – Lenders reject non-P.Eng reports.
Ensure it includes cost forecasting – Especially if you're applying via CMHC or a credit union.
Rush timelines must be guaranteed – ENGIPRO offers 7-day and 5-day delivery options.
What ENGIPRO Includes (and Why Lenders Approve It)
Included in Report | Why It Matters |
P.Eng sealed inspection | Required by CMHC & major banks |
Class D 10–30 yr budget | Confirms cash flow planning |
Immediate repair memo | Highlights urgent risks |
RUL projections | Ensures loan term is covered |
Reliance letter | Allows legal use by bank or insurer |
How Long Is a BCA Valid For?
Most BC lenders require the BCA to be no older than 6 months before loan closing. If you're buying or refinancing, don’t rely on old documents—update them.
FAQ – Building Condition Assessments for Financing in BC
Q: Do I really need a BCA for a small 6-unit building?
A: Most lenders don’t care about the size—if the loan is commercial, they’ll often still require a BCA.
Q: Can I just get an appraisal instead?
A: No. A BCA evaluates physical building condition; an appraisal evaluates value.
Q: Will a home inspection count?
A: No. Home inspectors aren’t licensed to produce BCA reports for financing use.
Q: I already submitted a report, but the bank asked for “Class D costs”—what’s that?
A: That refers to projected costs for long-term maintenance, which most standard reports skip. We include this automatically.
Don’t Let Your Report Delay the Deal
Building Condition Assessments for financing are not just paperwork—they’re a deal-critical requirement in BC real estate. ENGIPRO specializes in fast, professional, and lender-approved BCA reports that help clients close on time.
If your lender is waiting, don’t delay. Email your property address to info@engipro.ca today or get an instant estimate with our Online Quote Tool.
We’ll help you meet your financing deadline—without cutting corners.
Comments