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Draw Inspection/ Construction Progress

DPBasinApp

Freshman Member
Joined
Nov 20, 2019
Professional Status
Certified Residential Appraiser
State
Texas
I have been asked to do a "draw" inspection which I assume is the CPIM or Construction Progress Inspection Report. My assumption is I repeat the numbers in the pre-populated column after each inspection until they add up to 100% complete. Can someone confirm this or give any tips to filling out the form? What type of commentary is needed in this report? P. S. I've already completed an "as is" and ARV of the subject.

Appreciate any advice.
 
Haven't done one in ages, but as a I remember the form guides you - fill out and check off what portion of work has been completed as of X date - and if it asks the $ amount then fill it in.
 
What vendor form are you using from whom? There are a lot of different forms by contractors and I assume vendors for appraisal software. Normally you are trying to estimate the percentage done after each draw.

Old thread on Alamode
 
I have been asked to do a "draw" inspection which I assume is the CPIM or Construction Progress Inspection Report. My assumption is I repeat the numbers in the pre-populated column after each inspection until they add up to 100% complete. Can someone confirm this or give any tips to filling out the form? What type of commentary is needed in this report? P. S. I've already completed an "as is" and ARV of the subject.

Appreciate any advice.
Sorta. You observe the property and enter the percent for the items completed. If something is partially complete, you might enter less than the scheduled percentage for that item. You probably don't need to make any comments at all. You need to include photographs... and of course, your invoice.
 
I won't do a draw, to much thinking about percentages and trying to figure out if that amount was done.
 
Just ask the builder. I'm sure they will be glad to help you out.
 
I have been asked to do a "draw" inspection which I assume is the CPIM or Construction Progress Inspection Report. My assumption is I repeat the numbers in the pre-populated column after each inspection until they add up to 100% complete. Can someone confirm this or give any tips to filling out the form? What type of commentary is needed in this report? P. S. I've already completed an "as is" and ARV of the subject.

Appreciate any advice.
Wow, that is “old school”! I haven’t done that form in years since the lender fills out their own draw based on my inspection. All my clients are fine with a 1004D and state the work done with photos. Did the client specify the form? If not, you might want to recommend i.
 
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