DRB Associates performs independent cost reviews nationwide for new construction projects, remodels and additions.
DRB Associates performs independent cost reviews nationwide for new construction projects, remodels and additions. Our consultants begin by reviewing the plans, specifications and contract documents to provide the lender with an independent assessment of the contractor’s estimate. We compare the original estimate with our calculations derived from our experience and utilizing a variety of published cost data. Our findings are disclosed in a report that provides an opinion of the contractor’s estimate compared to the industry average and a review of the anticipated construction schedule for feasibility.
If construction has commenced, the report may also include our comparison of the planned progress schedule to the actual progress and summarizes the project details. In most instances, we then proceed with post-loan services, including progress inspection reports or loan disbursement control.
Independent Cost Reviews benefit the lender by:
- ➢ Evaluating Contractor’s license status thereby reducing the lender’s and borrower’s risk.
- ➢ Eliminating the cost of in-house lender personnel when estimate reviews do not support a full-time salaried position.
- ➢ Performing estimate reviews on an as-needed basis.
- ➢ One-Point Contact for lenders throughout the construction project.
- ➢ Quick turn-around to aid in a timely loan approval process.
- ➢ Determining the viability of the project costs and schedule based upon the scope of work.