This is a field inspection to determine an estimated percentage of completion for a real estate project. The inspection does not address quality control, contract document specifications, integrity of craftsmanship, or code compliance. The draw inspection is used by Lenders in an attempt to proportionally advance loan proceeds according to the estimated percentage of completion.
How many inspections are needed?
This varies based on the nature of the project and working capital of the Contractor. Smaller homes often require on average 6 to 8 inspections. Commercial projects tend to request funds on a monthly basis.
What is needed to order an inspection?
Contact information for the Lender, Borrower, and Contractor. Plat, plans, and budget provide the basic information for locating and monitoring the project. Typically, small residences are inspected using a standardized draw schedule. The Lender will decide which schedule or budget to use for the inspections. An example residential schedule may be downloaded from this site.
What is the best way to order an inspection?
Requests can be e-mailed or faxed. Faxing directs the request to more than one computer in the company where it is likely to be received more quickly.
How long will it take to get an inspection answer?
Once adequate information is received, our goal is one to two business days. Special arrangements can be made for rush or same day turn around as well as scheduling a specific time of day.
Are photographs included in the price?
Yes, normally photos are e-mailed in the evenings separate from the answers provided during the day unless other arrangements are made.