Budget Review (BR)

A third party review of proposed construction budget may be required from time to time. The review and analysis process is intended to provide our client with information to evaluate the reasonableness of the proposed construction budget. The objectives of the construction analysis are to:

  • Identify the overall scope of the construction/renovation work.
  • Review the completeness and adequacy of plans and contract agreements.
  • Opine on the budget to complete provided by the borrower.
  • Confirm that the cost breakdown submitted by the borrower (developer/contractor) is balanced and useable as the standard for future loan disbursements.
  • Provide an opinion as to the reasonableness of the borrower’s schedule.