Construction Final draw inspection

[Smokey Bear]

We often send the appraiser out when we are told it's done - and surprise! - it's not! Might be helpful to be able to give a percentage in that case? Or not go unless you know they have the CO in hand?

It depends on how annoying the lender is. If they're annoying you keep going out after they insist it's finished, and keep charging trip fees. when it's not done.

Normally, I'd make them fax me a copy of the CO, providing I like my client.

 

[Michael Tipton]

When I call the builder for a final inspection they are asked when the county's final has been done/scheduled, are appliances on site, has the final walk thru occurred. If the dwelling isn't complete, I advise the client with the builder's best guess for completion. If I visit the site and the subject is not complete, I submit a 1004D with unfinished items listed and an invoice for my inspection fee.

 

[sergei]

Thank you everyone. I believe the lender ask me to do periodic inspection and complete form of percentage completion. The lender offered periodic partial payments to the builder, depends percentage of completion.

Joanne, I'll be appreciated if you can fax me a copy of your form shows percentage of completion my fax # 425-660-8030

 

[Joanne Rauenzahn]

Sergei - on it's way!

 

[sergei]

I got it, thank you so much Joanne.

You know, I still don't understand, maybe something wrong with me, but how can I estimate percentage of completion. For example, report, you sent me show Framed and Closed estimated 30% from 100% for all house, and I mast complete 1st inspection, how should I estimate percentage of Frame completion, just visual or I should use some mathematical function.?

 

[Joanne Rauenzahn]

You know, I still don't understand, maybe something wrong with me, but how can I estimate percentage of completion. For example, report, you sent me show Framed and Closed estimated 30% from 100% for all house, and I mast complete 1st inspection, how should I estimate percentage of Frame completion, just visual or I should use some mathematical function.?

I would say if the framing is half done they get 15 out of 30, if fully framed & closed in 30 (meaning that in itself would make the house 30% complete) ...would think when a draw was requested that one area might be done. Does that make sense?

 

[sergei]

Or, I see. You estimate just what you see there. You don’t use any mathematical function.

Thank you so much

 

[Mr Rex]

Sergi, I just faxed 2 forms that are preprinted from Wintotal's forms. I have a new construction draw client that is sending me one about every other day, usually can catch going to or coming from other appraisal assignments, so its relatively easy money.

 

[sergei]

Thank you Mike, I got it.

 

[Lycabull]

Food for thought

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