Your Trusted Eyes and Ears in the Field
At Partner Residential Consultants, we firmly believe that reporting accuracy starts by deploying qualified professional Assessors onsite. Our approach isn’t about simply finding the cheapest local resource to take photos. Instead, we partner with credentialed field resources who possess the expertise to accurately assess the project. By leveraging knowledgeable professionals, we provide precise onsite observations, minimizing discrepancies in opinions regarding completed values.
Our Construction Draw Assessment Services
Partner’s Construction Draw services are specifically tailored for the unique aspects and requirements of residential construction projects, including single-family (1-4 unit) and multi-family (</=20 units). Our specialized process ensures comprehensive and accurate evaluations, so you can fund with confidence. The key components and features of this service that support a lender’s draw administration process include:
- Draw Request/Pay Application (SOV) Assessment: Partner conducts a thorough evaluation of the draw pay application, including supporting documentation (i.e., invoices, lien waivers, change orders), and Schedule of Values (SOV). This assessment encompasses a detailed review of the Total Completed and Stored Values, ensuring alignment with achieved project milestones and budget allocations assessed from the onsite inspection.
- Recommendation DAA (Draw Administration Assessment): Partner provides a Recommendation DAA report, offering valuable insights into the status of the construction project. This assessment aids in determining the appropriateness of fund disbursement based on the completed work and overall progress and health of the project.
- Support Document Review (CPM – Critical Path Method): Our Construction Draw Support includes a meticulous review of support documents, including Critical Path Method (CPM) analyses. This step ensures that project timelines, dependencies, and critical activities are in accordance with the proposed schedule.
Benefits for Residential Construction Lenders
Working with Partner for Construction Draw Assessments offers a multitude of advantages:
- Onsite Assessment Expertise: Partner’s team of experts conducts onsite assessments with a focus on accuracy, reliability, and industry best practices. Assessors are equipped to identify potential risks, deviations from the plan, and opportunities for improvement.
- Integrated Reporting: Comprehensive reports generated from the onsite assessments are presented in a clear and actionable format. Our reporting system, ResiLynx provides a detailed breakdown of findings, recommendations, and supporting documentation.
- Enhanced Decision-Making: Partner’s Construction Draw Support is designed to empower stakeholders with the information needed for sound decision-making, ensuring that fund disbursements align with project progress and compliance.
- Early Identification of Issues: Catch potential problems early, allowing for swift corrective measures before they escalate into costly delays.
- Monitor and Report on any Change Orders: Proactive monitoring helps ensure the project stays within budget, protecting your investment.
- Enhanced Transparency: Regular progress reports keep you informed, fostering a sense of security and trust with borrowers.
- Streamlined Loan Disbursement: Accurate verification of progress facilitates timely and justified release of loan funds.
Confidence Through Every Stage
Don’t be left in the dark about your construction project’s progress. Partner’s Construction Draw Assessments provide the clear picture you need to manage risk, optimize loan decisions, and ensure a successful project outcome. Contact us today to discuss your lending needs and how we can be your trusted partner in residential construction lending.