Pre-Construction Review
Cost Review
Building Consultants, Inc. can provide the following Cost Review services:
- Review the following documents:
- plans and specifications
- contractor’s cost breakdown for the project; the client will provide copies of the cost breakdowns from the contractor
- Develop estimated costs for the construction/rehabilitation of the project and compare to the contractor’s proposed cost breakdown
- Prepare a brief letter-type report for the project including:
- a brief description of the proposed improvements
- an evaluation of the contractor’s proposed improvements’ costs
- a summary of the project
- an attachment indicating the Construction Specifications Institute cost breakdown of the project
Limited Preconstruction Review
A Limited Preconstruction Review, which combines a limited Construction Documents Review and a Construction Cost Review, conducted by Building Consultants, Inc. (BCI) includes the following:
Review the following documents, which BCI can assist in collecting:
Information from the Lender relating to the budget
- The loan budget including
- Total loan amount
- Amount of loan allocated to direct construction costs
- Contingency amount and how contingency is allocated (soft or hard or both?)
- Loan timing requirements including
- Construction commencement date
- Substantial completion date
- The Lender’s funding parameters during construction including
- Retention % and release requirements
- Payment allowed for stored materials? What documentation is required?
- Change order parameters if any (i.e. maximum aggregate amount, maximum individual amount) or the borrower is responsible for payment of all change orders
Information from the borrower and/or relating to the proposed project:
- Signed and sealed final plans and specifications including:
- site (grading, water and sewer, roads, storm water management)
- architectural
- structural
- mechanical and electrical
- Documentation relating to the construction contracts and agreements, including
- fully executed copy of the general construction contract or construction management agreement with all attachments and exhibits, addenda or executed change orders
- contractor’s breakdown of all direct construction costs/schedule of values
BCI will prepare a brief written report.
Pre-construction Review
A Pre-construction Review, consisting of a combination of a Construction Documents Review and a Construction Cost Review, preformed by Building Consultants, Inc. (BCI) includes the following:
Review the following documents which BCI can assist in collecting:
Information from the Lender relating to the budget
- The loan budget including
- Total loan amount
- Amount of loan allocated to direct construction costs
- Contingency amount and how contingency is allocated (soft or hard or both?)
- Funding sources and any timing requirements for release of funding sources
- Equity contribution requirement amount if any and when?
- Participation with other lenders
- Trigger for commencement of release of Lender’s funds
- Loan timing requirements including
- The construction loan maturity date
- Extension options available?
- How long/how many?
- Construction commencement date
- Substantial completion date
- The Lender’s funding parameters during construction including
- Retention % and release requirements
- Payment allowed for stored materials? What documentation is required?
- Change order parameters if any (i.e. maximum aggregate amount, maximum individual amount) or the borrower is responsible for payment of all change orders
Information from the borrower and/or relating to the proposed project:
- Signed and sealed final plans and specifications including:
- site (grading, water and sewer, roads, storm water management)
- architectural
- structural
- mechanical and electrical
- tenant improvement drawings where applicable.
- The plat, preferably recorded, and/or other survey documentation indicating
- all site boundaries, easements, building restrictions, rights-of-way and buffer zones
- evidence the property is zoned for the intended use
- delineated flood plain and wetlands
- Engineering reports including information on
- geotechnical conditions, subsurface and soil conditions with the engineer’s earthwork and foundation design recommendations
- environmental report, if not performed by BCI, including historic and current site conditions, Freedom of Information documentation and environmentalists recommendations for further action
- condition survey report, if not performed by BCI, describing the existing major building systems for improvements to remain where applicable
- Documentation relating to the construction contracts and agreements, including
- fully executed copy of the owner/architect agreement
- fully executed copy of the general construction contract or construction management agreement with all attachments and exhibits, addenda or executed change orders
- contractor’s breakdown of all direct construction costs/schedule of values
- proposed construction schedule
- Documentation indicating necessary public or utilities approvals are in place, including:
- copies of grading, building and other special permits or any required variances or proffers required by local, state or federal regulations
- verification of availability of utilities, including water, sanitary sewer, gas, electric, telephone
- fully executed copies of any public works agreements for on- or off-site work
BCI will prepare a written report.