We are experienced real estate developers – we know how to determine an accurate renovation budget and a appropriate scope of work for the location and type of property.
We offer property inspection and valuation services to institutional, private, and hard-money lenders in New England. Relied on for timely, accurate, and thorough reports – our work helps mitigate risk and ensure projects are being completed with a high degree of success.
Inspections
Typically, an initial inspection is completed prior to closing, followed by progress inspections made prior to construction disbursements. The initial inspection should determine if the scope is appropriate and approximate costs of construction or renovation. During the project, further inspections are made to determine the value of the work completed and to justify draws on the construction loan.
Value Estimates/CMA
As opposed to a formal appraisal, we offer less-involved as-is/as-complete value estimates based on a Comparative Market Analysis (CMA). This report details the subject property particulars based on public record, and compares them with similar properties sold recently in the area. This helps lenders better determine the value of their collateral.
We charge $250 for an initial inspection, $350 if including a value estimate/CMA. Our fee is typically collected directly from the borrower at the time of the site visit.
Progress inspections are typically billed at $200, also collected from the borrower or deducted from loan requisitions.
Discounts are available based on volume. Prices are for projects under $1,000,000. Prices are for properties within a one-hour drive of Worcester County, Massachusetts.