CLM Group offers a Cost Review service that provides additional levels of risk assessment by reviewing construction plans and budget, appraisal report, and possible site visit to verify existing conditions. Our Cost Review report will be provided to the Lender and include the following:
An independent Cost Analysis and/or budget derived by CLM Estimators using current estimating software and regional trends and pricing.
A full detailed report with observations and opinions regarding the sufficiency of the proposed GC budget as presented.
If requested, an evaluation of the site property and its surrounding properties and area.
As part of this service, CLM Group requires that Lenders provide the following:
- Copy of the architectural plans (digital plans preferred)
- Copy of the Construction Agreement and Construction Budget
- Copy of FF&E proposals (as appropriate)
- Copy of the Appraisal Report
- Source and Use of Funds