Construction Project Cost Review (including Contractor Review)
CFCS will review documentation for your construction loan project and provide an assessment of key components including review of contractor.
For each review that you request CFCS will:
- Review the contractor, his license, references and financials.
- Review the construction agreement
- Assess the construction budget providing a parallel cost review
- Review the architect’s agreement
- Review construction plans
- Make recommendations to the Lender
For each review that you request, you must provide:
- Copies of contractor’s tax returns (prior 2 years)
- Copy of contractor’s state license (certificate or wallet size)
- List of references: major trades, suppliers, bank (minimum 1 of each type)
- List of past and current construction projects to include project $ value and project references.
- Copy of Construction Agreement
- Copy of Contractor’s Construction Budget/Proposal
- Construction Plans (full or ½ sized required, if PDF is provided fees will apply)
- Specifications and /or Project Manual
- Copy of Development Agreement (if applicable)
- Architect’s agreement
- Copy of Lender's Source and Use of Loan Proceeds
Contractor Review
CFCS will conduct a review of the contractor only.
For each review that you request CFCS will:
- Review contractor license
- Review contractor financials
- Review contractor references
For each review that you request you must provide:
- Copies of contractor’s tax returns (prior 2 years)
- Copy of contractor’s state license (certificate or wallet size)
- List of references: major trades, suppliers, bank (minimum 1 of each type)
- List of past and current construction projects to include project $ value and project references.
