LENDER INSPECTION SERVICES

CORE understands that securing financing in today’s environment requires time, preparation, and clear communication. Lending institutions rarely have staff with the expertise and experience to evaluate all the stages of a development such as due diligence, design, permitting, and construction to ensure that a project is being completed on budget, time, and to specifications.

 

CORE’s years of construction-related work experience have empowered us with the ability to work closely with the entire development team; lender, owners, designers, and contractors, to meet the unique needs of each lending institution providing the critical facts financial officers need throughout all phases of a development.

 

CORE will customize its services to suit and fulfill your specific needs with a lite version of our Development Services and Reporting services leveraging our years of experience to assist financial institutions with projects of any size and creating plans to satisfy all the requirements needed in a thoughtful and timely manner.

 

Lenders will perceive less risk when they see that there is a good team in place. CORE’s work for clients begins even before construction begins, with a review of all plans, specifications, contracts, schedules, licenses, permits, and budgets.

 

CORE offers line-item verification and provides comprehensive invoice verification throughout the entire construction process.

MONTHLY SITE INSPECTION AND PAYMENT APPLICATION REVIEW

CORE’S passion is ensuring our clients’ success. With our customized reporting system, our monthly visits will provide you with regular status details of the project, quality of the workmanship, and adherence to budget and schedules.

 

It is the goal of CORE to provide timely data and proactively mitigate any risk to safeguard the lender from any possible costly mistakes, schedule delays, and legal battles.

SITE INSPECTION CHECKLIST:

  • Updating of Project Completion dates
  • Reviewing Change Orders
  • Preparing Cost vs. Budget comparison reports
  • Payment recommendations
  • Safety checks
  • Progress photos
  • Providing monthly inspection reports to lenders and clients

CLOSE-OUT REVIEW AND TAKEOUT FINANCING

To ensure that your project is completed prior to the release of final funding, CORE will review final project close-out documentation including:

  • Architect’s Certificate of Substantial Completion
  • Recorded Notice of Completion
  • Permanent Certificate of Occupancy
  • Punch list completion
  • Reconciliation of final lien waivers
  • Endorsing appropriate title policies
  • Reviewing final pay applications
  • Property Management Turnover