Construction Review – Boston, MA
Dear Banking Professional,
We would like to introduce ourselves to you in order to provide you with residential or commercial construction plan review and payment requisition inspections for your loan customers.
We are able to review plans for loan justification to determine if the residential or commercial construction project has sufficient funds to be built. In addition, we can review each requisition for payment from contractors and make appropriate site visits to determine the correct amount due, based on the percentage of construction completed.
The key to providing plan reviewing services, to determine if the loan amount is appropriate for a particular construction project, is the ability to understand current costs for different types of buildings. We have been involved in the design and construction of a wide range of building projects for more than 29 years. This experience includes building types involving residential (small & large scale), commercial (tenant fit-ups to corporate headquarters), institutional (hospital clinics to bank branches), public works (post offices to toll bridges) and hospitality (hotels to restaurants) construction projects. We are actively involved in the construction administration of many building projects and are aware of current costs for both union and non-union construction. We can review the construction plans for a perspective loan and help you understand if that project may have difficulties in achieving final completion.
During construction, site visits will be necessary every time a contractor submits a requisition for payment. Many contractors will attempt to get ahead of the payment schedule by submitting payment requests for more work than may have been completed. Approval for payment should only be given based on the work completed at the site and actual materials on site. On occasion, for large scale projects, payment may be approved for materials at a fabricator’s shop off site, but only after confirming the existence of those materials in the hands of the fabricator for that project. In addition, the bank may require that a 10 percent retainage be withheld from the contractor until all work is complete, ensuring the final completion of a building project.
This work requires that the review of plans and approval for payments be both fair and tough along with the familiarity with a construction site and the knowledge of construction methods. A.I. Home Inspection has this experience and knowledge and will make the perfect bridge between your interests and the interests of your loan customers.
Please call Steven Petitpas, founder of A.I. Home Inspection, directly at 617-323-6081.