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Funds Control is integral to ensuring a construction project’s timely and budgeted completion. Our team of construction professionals administers the Funds Control and Disbursements Program, managing payment applications and disbursements.
Real estate investments in construction projects carry inherent risks due to the multitude of factors influencing project success. Inadequate plans, over-optimistic timelines and budgets, and a limited understanding of the project’s final outcome can significantly jeopardize the likelihood of success.
A Project and Budget Review (PBR) is a limited-scope report typically conducted before the closing of a construction loan. It focuses on a subset of items covered in a Document and Cost Review, including the Budget, Schedule, Drawings and Specifications, Construction Contract, and any other document(s) related to budget and scope.
While the lender undertakes the construction loan underwriting, a crucial individual in the construction process, the general contractor, often goes unexamined. Integrity provides Contractor Evaluations, which involve in-depth reviews of the qualifications and capabilities of the General Contractor to complete the project.
To meet the requirements of construction lenders, we are often tasked with providing on-site assessments to report on project progress. Through Construction Progress Monitoring, Integrity conducts regular or monthly assessments to ensure the planned improvements.
The construction Completion Commitment is a proactive risk management approach offering comprehensive fiduciary safety and construction oversight. It can be used in lieu of or in conjunction with a bond and includes Integrity’s full suite of Construction Risk Management services.
As an owner’s/lenders representative, Integrity offers technical expertise and project experience for successful project outcomes. From preconstruction to project closeout, Integrity acts as an extension of the client’s team, ensuring open collaboration, issue tracking, solution facilitation, and timely information delivery.
YES! Integrity can handle all the needs of a large or small REO portfolio. We visit each property to photograph and evaluate its condition and make recommendations regarding maintenance, health, and safety and code compliance issues. We also recommend scope and nature of repairs that can maximize return on the asset.
YES! Includes visit to the property to determine project status, a review of plans and specifications, and preparation of detailed line item costs to complete project. We also verify permit and inspection status with the governing jurisdiction.
YES! Individual property analysis includes a visit to each site and property-specific analysis to determine any deferred maintenance, health, safety, or code compliance issues. Reports contain photographs, cost-to-cure estimates, and outstanding scope of work. Integrity is prepared to review a lender’s entire portfolio if desired.
YES! Includes governmental review of requirements for project development, engineering concerns, conditional approval requirements, and status updates.
