Need a Building Condition Assessment ASAP for Your Bank Loan? Here’s What BC Lenders Expect
- ENGIPRO
- Jul 4
- 3 min read
Closing dates wait for no one. Whether you’re lining up CMHC-insured financing or a private bridge loan, BC lenders won’t advance funds until they see a current, engineer-sealed Building Condition Assessment that proves the asset will outlive the loan term. The catch?
Offer timelines are tightening (many deals now allow 10 business days for all conditions).
BCA turnaround from most firms averages 3–4 weeks.
ENGIPRO built a “Rapid-Loan” workflow—twin-engineer site teams, weekend drafting shifts, and lender-template outputs—to guarantee a 7-day (or optional 5-day) delivery. Below you’ll find everything bankers check for, cost ranges, real-world success stories, and pro tips to shave days off your approval clock.
CMHC’s official Multi-Unit Mortgage-Loan Insurance Guide lists the BCA/PCCA requirements for insured loans.
Why BC Lenders Require a BCA
Loan Program | Who Demands It | Risk Addressed |
Standard commercial mortgage | Big 5 banks, credit unions | Asset must remain marketable during 5-/10-/25-year amortization |
CMHC MLI Select | CMHC + underwriter | Confirms long-term building envelope and mechanical health |
Construction “take-out” loan | Schedule A banks | Ensures as-built quality meets plans |
Private bridge financing | MICs, debt funds | Verifies immediate repair liabilities |
Banks want a P.Eng-sealed capital-cost roadmap to stress-test the property’s DSCR and loan-to-value.
Rush BCA Price Ranges (Metro Vancouver, 2025)
Size / Complexity | 7-Day Rush | 14-Day Standard |
Small (≤50 units) | starting from $4,000 | starting from $3,000 |
Medium (51–100 units) | starting from $6,000 | starting from $5,000 |
Large (100+ units) | starting from $9,000 | starting from $8,000 |
Rush premiums cover:
Priority drafting
Weekend or after-hours inspections (when tenants allow access)
Technical Safety BC’s Professional-of-Record FAQ explains why engineer seals matter for lenders and permitting.
What Must Be in a “Bank-Ready” BCA?
Engineer’s Seal (P.Eng, discipline + permit no.)
Deficiency Identification with Lifecycle Context—roof, HVAC, elevators, plumbing, envelope
Capital Expenditure Plan (0, 1, 3, 5 years)
Cost Estimate with Assumptions - Budget-level estimate with clear notes
Photo Evidence tied to floor-plan call-outs
Signed Reliance Letter allowing the named lender to rely on the report—mandatory
Facility Maintenance Observations - Summary of property maintenance practices
Banks reject BCAs missing any one of these points.
Case Study — 7-Day BCA Saves $35 M Purchase
Asset: 84-unit Burnaby rental tower
Issue: Buyer had 8-day financing condition; competing firm quoted 3 weeks
ENGIPRO Solution: Deployed rush crew; delivered sealed BCA + reliance letter in 5 days
Outcome: Bank released funds on Day 8; seller accepted; buyer avoided $150 k deposit lost clears every approval in one pass, avoiding the “ping-pong” of separate consultants.
ENGIPRO’s Rapid-Loan BCA Workflow
Day | Action |
0 | Email confirmation + e-docs collection |
2 | Engineer site visit (drone roof scan) |
4 | Draft BCA |
5 | Review + reliance letter finalised |
6-7 | PDF/A sealed report delivered |
Need it in 5 days? We hold two “lightning” slots per week—first-come, first-served.
FAQ: Rush BCA for Financing
Q | A |
Can CMHC waive the BCA? | Only for refi under $1 M—rare in BC. |
Roof cores mandatory? | Most lenders accept drone on roofs. |
Will the bank accept a draft? | No—reliance letter and seal must be finalized. |
Do you cover Victoria / Kelowna? | Yes—travel included in rush fee if booked ≥48 h out. |
Pro Tips to Save Time & Money
Share previous appraisals—helps bank cross-check replacement cost.
Pre-book mechanical-room keys—avoids re-visit surcharge (≈$600).
Bundle with envelope drone scan—cheaper than separate façade contractor.
Ready to Lock in Your Financing?
Get a 10-second estimate via our BCA Price Calculator
Or email info@engipro.ca—get your proposal within 24 hours
Let’s power your project forward with the right team on every report!
External Link:
Multi-Unit Mortgage-Loan Insurance Guide - https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/multi-unit-insurance
Technical Safety BC’s Professional-of-Record FAQ - https://www.technicalsafetybc.ca/
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