CM: CONSTRUCTION MONITORING
RSB is an industry leader in providing Construction and Loan Monitoring services for commercial lenders and investors. Our Construction Risk Management team will conduct ongoing progress inspections for lenders and investors in order to ensure compliance with applicable plans and specifications, observe the work in place each period for payment release, and monitoring of the project schedule and budgets.
PCR: PLAN AND COST REVIEWS
RSB has a dedicated team of licensed professionals who are highly skilled and experienced in a variety of construction-related disciplines as well as conducting pre-construction due diligence analysis.
The document review portion includes an independent evaluation of the site development and construction drawings and specifications manual for completeness, appropriateness, and accuracy, and conformance to applicable governing codes. Documents to be reviewed can consist of the following (as available):
- Construction contract(s)
- ALTA Survey
- Geotechnical reports
- Civil engineering drawings and specifications
- Structural engineering drawings and specifications
- Architectural drawings and specifications
- MEP drawings and specifications
- Project schedules
- Agreements (between borrower/general contractor, borrower/architect or engineer)
- Verify conformance between contract documents and the construction loan agreement
- Will-serve letters for utilities including water, sanitary sewer, gas, electric, telephone
- Copies of any public works agreements for required on- or off-site work
The cost review portion includes an evaluation of the proposed budget with an analysis of the adequacy of the construction hard cost budget and contingency to complete the proposed development within the project schedule timeline. Documents to be reviewed can consist of the following (as available):
- Construction hard cost budget
- Development budget
- Loan hard cost budget
- Conformance of the project hard costs to complete the scope of work included in the plans and specifications
- Comparison of the project budget to those of other similar projects
Our Plan and Cost Review services assist in the proper underwriting of construction loans and/or monitoring of construction activities. Our review will include a thorough review of the project drawings, specifications, schedules, budgets, and contracts to ensure that each are complete and adequate for the contemplated project. We analyze the feasibility, cost, and duration of proposed construction projects which are the subject of construction loan financing or equity participation. Our customized reports provide our clients with the information needed to evaluate proposed construction projects and related budgets.
During the process, RSB can perform the following:
- Periodic site visits to document/evaluate the quality, quantity, and status of work completed
- Verify that work in place conforms with contractor’s application for payment
- Confirm the project status conforms with the construction schedule
- Confirm that work in place conforms with approved plans and specifications and no substantive changes are made without client knowledge
- Review and evaluate all change orders
- Review available lien waivers
- Confirm and document the inventory of stored materials on or off site
- Evaluate the adequacy of funds to complete the project
- Review and document special inspection reports
- Provide a client-specific written report with photographic documentation, a summary of findings, and recommendations for the disbursement request
Why Choose US?
- All reports are prepared by licensed professional with at least 10 years of industry experience
- Quick turnaround for most of the cities in the US
- Strong Local presence and experience in Texas.