Construction Document Review and Loan Monitoring
Nova provides Construction Document Review and Loan Monitoring services to numerous mortgage and construction lenders across the country. Services are provided for multi-family residential, commercial, and industrial facilities.
Construction reporting begins with a review of all project documentation to identify any major errors, omissions, or concerns with project documentation, budget, contracts, material selection or design suitability. Nova informs clients on progress, quality of work, noted deficiencies, Application for Payment, work schedule, and conformance with the approved plans and specifications.
On-site visits are conducted in conjunction with the Application and Certificate for Payment process to determine whether the request for payment is justified by the amount of work completed and whether remaining construction funds are sufficient to complete construction. Nova interviews site personnel and local officials and provides a complete report with full photographic documentation of the project’s progress.
- Construction Document Review
- Budget Review
- Construction Monitoring
- Draw Request Review
- Monthly Construction Status Reporting
- Identification of Construction Substitutes or Inconsistencies
- Current and Proposed Change Orders
- Photographic Documentation
- Final Punch List