Request a proposal In the field. In the documents. On the record.Pre-closing construction diligence
Pre-closing review of plans, specifications, budgets, schedules, contracts, approvals, and the assumptions supporting a construction loan.
Request a proposalIn plain terms
A plan and cost review tests whether the available project documents describe a coordinated and reasonably funded construction scope. It identifies omissions and assumptions while the lender, equity partner, owner, and contractor still have time to resolve them.
Scope, requirements & reporting
Read drawings and specifications alongside the construction contract, trade breakdown, exclusions, allowances, and owner-direct work. A total contract price can appear adequate while leaving utility work, site conditions, permit costs, or finish packages outside the funded scope.
Distinguish executed subcontracts from quotes, allowances, and uncommitted work. Review contingency against design development, procurement status, and known project risks. Cost comparisons are useful only when location, date, quantity, quality, and included scope are comparable.
The report should identify the documents reviewed and their dates, material scope gaps, budget and schedule assumptions, approvals still needed, and items requiring resolution. It is not a redesign, contractor bid, or guarantee of final cost.
Decisions supported
Is the proposed scope sufficiently defined to support the budget?
Are hard costs, soft costs, contingency, and escalation reasonably addressed?
Does the schedule align with the scope, procurement, approvals, and contract requirements?
Which open items should be resolved before closing or tracked after closing?
Typical scope
The final scope follows the property, transaction, program, client requirements, and information available. Typical elements include:
Process
Confirm the property or project, intended use, reliance parties, schedule, available information, and required deliverable.
Review the documents, identify gaps, and coordinate the people and access needed to complete the scope.
Perform the observations, analysis, interviews, and specialist coordination called for by the assignment.
Separate material findings from background information and state the basis, limitations, open items, and follow-up clearly.
Common assignments
Third-party review supporting the lender’s technical due diligence and closing conditions.
Coordinated review of complex capital stacks, program requirements, scopes, and development budgets.
Plan and cost analysis for occupied, phased, historic, or technically complex renovation projects.
Frequently asked
Yes, but the report should identify uncommitted scope and the basis used to evaluate it. Later contracts can change the conclusion and may require an update.
No. It evaluates the documents for the agreed due-diligence purpose. Design adequacy, coordination, code compliance, and professional seals remain with the responsible designers and authorities.
Material revisions should be compared with the reviewed documents, budget, and schedule. A report based on an earlier design should not be treated as approval of later scope changes.
It evaluates whether the proposed scope, drawings, specifications, budget, schedule, contracts, approvals, and project team provide a reasonable basis for the planned construction and financing.
The review is most useful while the lender and project team still have time to resolve scope gaps, budget questions, contract issues, or missing approvals before closing.
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