PRE-CLOSE PROJECT ANALYSIS
Eliminate risk before it begins
Our Pre-Close Project Analysis is a powerful report that dramatically improves loan underwriting efficacy and provides a transparent view of the potential construction risks before the loan is made. We bundle pre-close services according to your project concerns.
A Pre-Close Project Analysis can vary in price depending on complexity and typically takes 7-14 days to complete.
What does a Pre-Close Project Analysis include?
- Pre-Close Needs Analysis with Lender
Initial meeting to understand lender’s specific project concerns and needs
- Builder Acceptance Validation
Holistic review of builder including credit history, customer reviews, construction competency, licensing, referrals, legal entity, court proceedings, and criminal history
- Insurance Validation
Loss payee validation and limits review for surety bond, commercial liability, builders risk insurance
- Construction Cost and Timeline Review
Validation of schedule costs and estimated completion time
- Retainage and Contingency Recommendations
Retainage and contingency recommendations (Builder Acceptance Validation and Construction Cost and Timeline Review required)
- As Completed Appraisal Value
As completed appraisal based on project plans performed by a licensed appraiser
- Legal Review of Construction Contract
Attorney performed review of the construction contract along with markups and recommendations
- Best Practices Project Analysis
Best practices opinion after review of provided geotechnical, environmental, architectural and engineering reports
- Draw Schedule Normalization
Conversion of builders scheduled cost to AIA or lender’s prefered form
- Permit / Zoning / Ordinance Review
Review of required permits, zoning approvals, and city/county ordinances to ensure against possible violation
- Early Start Site Inspection
Pre-close site inspection to verify construction has not begun prior to closing
- Pre-Close Project Report
Summary report including opinion, recommendations, and identified issues