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WGS Associates, Inc.
office (407) 889-0001
fax (407) 889-0001
wgsa@wgsa-inc.com
Real Estate Due Diligence

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Construction Loan Monitoring

WGSA assists lenders and developers in evaluating new construction or renovation proposals by providing an objective opinion regarding completeness of plans and specifications; reasonableness of proposed schedule of values; and practicability of the project schedule. A written opinion is provided explaining any discrepancies or recommendations for re-evaluation.

Once a construction project is underway, WGSA reviews the application for payment submitted by the contractor, performs a site inspection, records the progress with photographs and written narrative, and interviews onsite personnel. The inspection report compares the work observed to the work completed claimed on the Application for Payment and notes any inconsistencies. The work progress is also compared with the project schedule and an opinion is given as to the reasonableness of the completion schedule. Additional items may include tracking Notice to Owner filings and lien releases, change orders reflected in the schedule of values and completion schedule, status of inspections, adequacy of the work force, and general observations of construction quality. In most cases these reports can be prepared within 2 - 5 days. The fees vary according to the specific scope of work agreed upon in the engagement document.