Plan and Cost Review

The Office of the Comptroller of the Currency, in the Handbook for Commercial Real Estate Lending, indicates that each Construction Project should maintain several loan files. One of these is a detailed line-item budget that should be carefully reviewed by a qualified individual to determine if the budget is appropriate and reasonable. Bold Control provides an in depth analysis of budget, plans, and specifications, along with a review of several other key reports, and the construction contract.

This review provides the Lender with an analysis of the governing documents. These documents are analyzed and compared with local, national and historical data to provide the Lender with comparable data to projects of a similar nature. Documents reviewed include but are not limited to:

• Owner/Architect Agreement

• Owner/Contractor Agreement

• Plans

• Specifications

• Project Budget

• Project Schedule/Time Line

• Environmental Reports

• Permits

• Geotechnical Review

• Appraisal Review