CONSTRUCTION FINANCIAL SERVICES

Gallet & Associates' Construction Financial Services provides consulting services for construction and permanent loan real estate lenders, mortgage bankers, institutional and private investors/owners, REITs, housing authorities and HUD.  Our staff includes individuals with architectural, engineering and construction management degrees. Our scope of services includes:

  • Property Condition Reports (Due Diligence Reports, Physical Needs Assessments)
     
    • Opinions of the property's overall physical condition
     
    • Description of pertinent components or building systems
     
    • Identification of Physical Deficiencies and conditions that would limit the expected useful life of major components or systems
     
    • Estimated costs to remedy Physical Deficiencies
     
    • Annual Replacement Reserve Expenditures
     
  • Plan and Cost Review and Reports

    Review the Following Documents:

    • Plans and specifications
     
    • Itemized trade cost breakdown
     
    • Soils report
     
    • Construction contracts
     
    • Pre-construction documentation

    Summary Report Containing:

    • Description of the project and our opinion and comments regarding the adequacy and completeness of the plans and specifications
     
    • Review of the construction contract(s)
     
    • Review of the project schedule
     
    • Review of the hard costs
     
    • Completeness of the construction breakdown, general contract and subcontracts, as negotiated
     
  • Construction and Loan Monitoring (Site Observations, Draw Requests)
    • Work in progress
     
    • Percentage of work in place, compared with percentage shown in Application for Payment
     
    • Recommendations as to whether request is appropriate
     
    • Photographs of current progress