Construction Draw Inspections and Why Are They Important?

I’ve never been in a situation that required draw inspections HOWEVER I’ve heard from several homeowners just how much they appreciated them though their contractors maybe didn’t necessarily quite as much. Inspections really ARE for the benefit and safety of the homeowner and having a bank insist on them would be ideal.

(This is a contributed post, for more information about my compensation please read my disclosure policy)

Construction projects are well-thought-out endeavors and involve multiple parties, each having a specific role. These parties typically include builders and lenders. The main job of a builder is to assess the project’s materials and labor requirements and forward them to the construction loan lender. The lender then disburses funds based on these requests. The loan provider will also order construction draw inspections to verify the validity of the builder’s requests and check the project’s progress.

What are construction draw inspections?

Construction draw inspections, also known as progress inspections, are construction site checks carried out by a neutral third party, such as Northwest Construction Control, to determine the progress of a project. The purpose of the inspection is to confirm that the amount requested on the draw matches the work completed on the construction site. Since construction loans are given out in portions rather than in one bulk amount, these inspections help the lender ensure that the money being dispersed for different project phases matches the work done on the site.

The inspector will also detail the percentage of needed materials on site and evidence of observations through photos and reports. Unlike a normal home inspection, construction draw inspections are not for finding defects.

Why are construction draw inspections important?

The importance of construction draw inspections rests in an excellent inspection system that deals with errors and necessary changes. Here are the four primary reasons why construction draw inspections are essential.

1.    Reduce risks

Since construction grants are unsecured loans, they pose high risks to lenders. Draw inspections help to mitigate these risks through regular on-site checks with qualified inspectors who keep the lender updated and ensure no more funds are tied up than necessary. These inspections also allow the lender to follow along with the builder and project owner to ensure that the appropriate funds are available to them.

2.    Enhance construction quality

Every company strives to offer quality work when working on a project. It builds a company’s reputation and the team’s pride in the work they produce. Nevertheless, quality is only met with high standards, and inspections are required to identify any regulation or building code errors in your construction project. Following proper regulations and having great quality will leave your client with a well-built home or commercial property.

3.    Greener construction

The construction industry has specific environmental regulations to promote a greener home for the environment. Draw inspections ensure construction companies adhere to these regulations. In addition, the serious penalties for any possible environmental violation have strongly supported the effort for a greener construction industry.

4.    Better task focus

Inspections may be overwhelming sometimes, but they help those who work on a job site maintain an alert state of consciousness. Construction workers and agents have better concentration and more accurate focus on what they are doing. In addition, they have all the necessary means to do an excellent job since everyone is living up to the pre-established expectations.

Endnote

Construction draw inspections safeguard banks or other financial institutions that offer loans for huge building projects. They ensure the amount borrowed matches the completed work. In addition, they help keep the loan provider informed about the work progress and any concerns that may arise. However, working with licensed and qualified inspectors is the best way to keep the money flowing without undue delay.

(This is a contributed post, for more information about my compensation please read my disclosure policy)