Falkin Associates reduces the risk associated with construction lending by providing a pre-closing document and budget review called a Project Evaluation Report (PER) where we review all construction related documents and provide a project summary and identify any areas of concern or elevated risk. Once construction is underway we perform monthly Site Visit Reports (SVR) where we provide construction progress updates in association with review and approval of contractor’s applications for payment.
Our Lender Services include the following:
- Project Evaluation Reports (PER) – Identifies lender risks and potential solutions with cost feasibility review
- Construction Site Visit Reports (SVR) – Construction Monitoring. Comprehensive review of plan conformance, schedule compliance, work quality, change orders and change order potential and contractor payment request review
- Property Condition Assessments (PCA) – Thorough review of property condition, identification of deferred maintenance, repair cost estimates and replacement reserve schedules of future repair costs over periods up to 20 years
- Specialty Experience/Sustainable Building – Our staff maintains up-to-date certification in a broad range of subjects, all designed to meet our client’s specific needs. LEED, Tax Credit Compliance, ESDS, ESS, and more
- Cost-to-Complete Analysis – Evaluate current construction status and determine cost to complete unfinished work
- Seismic Performance Analysis – PML studies – Determine current seismic risk, require drepairs and calculate probable maximum loss factors
- Annual Portfolio Condition Inspections – Annual property inspections reporting on condition and maintenance
- Distressed Property Work Out Services – Property evaluation, recommendations for next steps, cost estimates for repairs/completion and project management of repair and completion work
- Tax credit Review – Plan analysis and construction confirmation for compliance with tax credit finance requirements
- Evergreen Sustainable Design Standards Review and Compliance – Plan review and monitoring installation of sustainable products, assemblies and practices. Confirmation of proper documentation to assure compliance.