Project Loan Monitoring
Protect the interests of lenders and investors through due diligence reviews and objective examination of key risk parameters and status updates on the project through the construction period.
Project monitoring and reporting services are typically provided by an independent consultant for end users that may include financial institutions, governments, real estate investors and other organizations. Depending on the type of client, project and the scope of services provided, practitioners may be referred to divergently as project monitor, construction loan monitor, quantity surveyor, cost consultant or technical advisor.
The appointment of a project monitor does not replace any of the traditional project management functions, but protects the Lender’s interests and may add value to the Borrower’s team by virtue of the monitoring process and the Quantity Surveyor’s expertise.
Services include:
- Initial Project Budget Review
- Progress advance reports, inclusive of onsite verification of claimed work in place
- Final verification letters for permanent financing / mortgages
- Experience with CMHC insured loan requirements and multiple funding scenarios
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