Building Consultants, Inc.


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Limited Preconstruction Review

A Limited Preconstruction Review, which combines a limited Construction Documents Review and a Construction Cost Review, conducted by Building Consultants, Inc. (BCI) includes the following:

Review the following documents, which BCI can assist in collecting:

Information from the Lender relating to the budget

  • The loan budget including
    • Total loan amount
    • Amount of loan allocated to direct construction costs
    • Contingency amount and how contingency is allocated (soft or hard or both?)
  • Loan timing requirements including
    • Construction commencement date
    • Substantial completion date
  • The Lender’s funding parameters during construction including
    • Retention % and release requirements
    • Payment allowed for stored materials? What documentation is required?
    • Change order parameters if any (i.e. maximum aggregate amount, maximum individual amount) or the borrower is responsible for payment of all change orders

Information from the borrower and/or relating to the proposed project:

  • Signed and sealed final plans and specifications including:
    • site (grading, water and sewer, roads, storm water management)
    • architectural
    • structural
    • mechanical and electrical
  • Documentation relating to the construction contracts and agreements, including
    • fully executed copy of the general construction contract or construction management agreement with all attachments and exhibits, addenda or executed change orders
    • contractor's breakdown of all direct construction costs/schedule of values

BCI will prepare a brief written report.

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