Construction Inspections, or what is sometimes called
Construction Draw Inspections, are typically used by lenders to measure
progress on construction projects. Inspections are usually performed
periodically during the construction process. These Inspections provide the
lender with a percentage of completion for each project at various construction
stages, allowing the lender to issue installment advances on the builder’s
construction loan. Stated another way, Construction Draw Inspections permit a
gradual and orderly funding of construction loans as projects are being
constructed. This process helps keep the lender from going underwater on the
loan during the construction process.
ELLIOTT® & Company Appraisers has performed thousands of
commercial and residential Construction Inspections nationwide. Give us a call
and find out how we can help you with your Construction Inspections.