To ensure proper budgeting and phase planning on a project, lending institutions retain Merritt Engineering for Plan & Cost Reviews. We review budgets and pertinent documents submitted by the borrower including plans and specifications, permits, hard and soft cost budgets, and timelines to determine if the project appears feasible for the cost and time frame provided.
In addition, we provide periodic site visits to verify completion of work and approve contractors request for payment. Each site visit report is accompanied by photos, AIA G702 and G703 documents, request for payment application and signed partial waver of lien from the contractors and sub-contractors.