Construction budget review and lender draw review
Before you close a loan or sign a contract, Ascend tests the budget against complete scope and current trade pricing. During construction, we review each draw against work in place.
For developers and investors
A budget review before you commit capital.
- Line-by-line budget check against the drawings and current trade pricing.
- Scope gaps that tend to come back as change orders.
- Value-engineering options that protect the design and the pro forma.
- A buyout plan for competitive bidding.
For banks and lenders
Independent review so loan funds go to work actually in place.
- Budget and cost review before the loan closes.
- Draw and pay application review against work in place.
- Change-order review for scope and price.
- Schedule and budget-to-complete status with each draw.
The number on paper is not always the number you pay.
A budget built without complete scope, or carried by someone who is also designing the project, tends to drift. A second look at scope, quantities and pricing is often where the risk and the savings are.
$2 million under the original budget
A healthcare project carried a $5.5 million budget while the owner's architect served as both architect and construction manager. Ascend came in as construction manager, value-engineered the design, competitively bid every scope, and bought the work out at $3.5 million with qualified subcontractors.
Getting started is simple.
- Drawings at whatever stage they are.
- The current budget or bids, if you have them.
- The schedule and your target dates.
- Your goals, including any lender requirements.
Frequently asked questions
When should I get a budget review?
Before you close a construction loan, sign a construction contract, or approve a guaranteed maximum price. Early reviews leave the most room to change scope and pricing.
What does a lender draw review include?
We compare each pay application to work actually in place, review change orders, and report schedule status and budget-to-complete so the lender can fund with confidence.
What do you need to start?
Drawings, the current budget or bids, the schedule and your goals. We can start with whatever stage the design is in.
Do you review projects outside Houston?
Yes. We review projects across Texas and in Michigan.