Progess Inspections

What are Construction Progress Inspections for Lenders?

Construction progress inspectors report work completed or partially completed on-site to the lender or lender’s agent . The inspector will also note materials onsite when observed.

The report includes a percentage of completion for line items being requested and an overall percentage of completion for the project. Depending on the needs of the lender, the inspector may also recommend approval of draws or refer the decision to the lender.

The report also includes sufficient pictures to corroborate the written report (usually 4 to 6 pictures for residential and as many as needed for commercial). Lenders use this report to verify disbursement requests made by the owner, borrower or contractor.

Leeway Inspection Company’s responsibility is to the lender or its agent only. Leeway’s job is to report percentage of completion of construction projects to the lender. Leeway takes no responsibility for quality of work, quality of materials or code violations. However, as the eyes of the lender, if we are made aware an issue that would concern the lender, like unpaid workers, stop notices, or obvious downgrade of material used, we will report that information as a service.