What is a construction draw site review and report?

A construction draw site review (also known as a construction loan inspection/review, construction progress review/inspection, construction loan monitoring, bank draw review/inspection, work-in-place verification or construction site review/inspection) is an on-site review of apparent work in place and stored materials to assess the accuracy of a contractor’s/owner’s construction loan or equity draw request, followed by a report detailing findings. The construction draw site review and report help our clients assess whether requested funding generally aligns with apparent progress on the project, helping to protect the equity provider or lender from overfunding, ensure the project is on schedule, and verify that funding proceeds are used for their intended purpose.

Smart Site Reviews acts as the lender’s “eyes and boots on the ground” to make sure clients’ projects stay on budget and on schedule. We provide independent construction draw site reviews for projects in North Carolina, Virginia and South Carolina.

How does a construction draw site review help manage construction risk?

During a review, we:

• Conduct an on-site review and compare the requested draw to the apparent construction progress at the project;
• Review and verify stored materials (when applicable);
• Identify front-loading or other draw schedule issues;
• Identify material visible construction deficiencies, delays or scope changes;
• Take note of potential issues relating to labor or material shortages, remaining funds and schedule;
• Take sufficient photos and videos to allow our clients to support their decision to fund or not to fund; and
• Provide a detailed report of our findings that includes a clear recommendation to fund or not fund the draw.

This process helps construction lenders and equity sources avoid over-funding and maintain appropriate loan-to-cost and loan-to-value positions throughout the construction project, helping to further secure their collateral or investment.

What happens if a construction draw site review and report results in a recommendation to not fund?

If a review identifies incomplete or insufficient work, or other issues with the project, the lender or equity provider may delay disbursement until the issue is corrected or adjust the disbursement amount. Smart Site Reviews representatives provide detailed documentation and photos and videos to help all parties quickly resolve any discrepancies and keep the project moving forward.

What types of construction projects do you inspect?

Smart Site Reviews provides construction draw site reviews for:

• Office, industrial/manufacturing/logistics, retail and mixed-use;
• Multifamily, including apartments and condos;
• Hospitality, self-storage, healthcare/life sciences and education/civic;
• Parking/structured facilities, specialty and other commercial properties; and
• Residential subdivisions and townhome communities (entire projects).

We provide our services for commercial real estate and residential subdivision projects, not individual single-family homes.

Where do you perform construction draw site reviews?

Our review service area includes:

• North Carolina (e.g. Charlotte, Raleigh, Durham, Greensboro, Wilmington, Jacksonville, Fayetteville, Rocky Mount, Wilson, Winston-Salem, Asheville and other NC markets).
• Virginia (e.g. Danville, Martinsville, Bristol, Richmond, Norfolk and nearby markets).
• South Carolina (e.g. the greater Charlotte-adjacent and Upstate markets such as Rock Hill, Fort Mill and the Greenville–Spartanburg region).

How often are construction draw site reviews performed?

Most construction lenders and equity providers request monthly reviews or reviews timed to each draw request. For higher-risk projects or accelerated construction schedules, reviews may occur more frequently, depending on the client’s construction monitoring policy. Smart Site Reviews works with each client to align our site review schedule with their draw and funding process.

What do your construction draw site review reports include?

Our reports are user-friendly and typically include:

• Assessment of sufficiency of available funds;
• Comments on schedule status and any observed delays;
• Notes on stored materials, change orders and visible deficiencies;
• Extensive site photos and video, giving the lender a clear view of project progress.
• A clear recommendation to fund or not to fund the draw; and

Reports can be customized to meet a client’s internal construction administration requirements or delivered using the client’s own form.

What types of entities use your construction draw site review services?

Our review services are used by:

• National, regional and community banks and credit unions;
• Private debt sources, including bridge, development and mezzanine lenders, and hard money lenders;
• Equity providers and JV partners; and
• Other capital providers looking for a third-party construction risk review.

• National, regional and community banks and credit unions;
• Private debt sources, including bridge, development and mezzanine lenders, and hard money lenders;
• Equity providers and JV partners; and
• Other capital providers looking for a third-party construction risk review.

We work directly for the lender or equity provider to deliver thorough, independent and focused reports.

How much does a construction draw site review cost?

The cost of a review depends on project size, scope, complexity and sufficiency of documentation. Smart Site Reviews provides competitive pricing and can discuss volume-based options for lenders managing multiple loans on similar projects. Contact our team for a custom quote based on your review needs.

How fast is a construction draw site review report delivered?

Most review reports are completed within 3–5 business days after receipt of the request from the client, depending on contractor responsiveness. Smart Site Reviews prioritizes timely reporting so lenders and equity sources can keep funds moving and minimize project delays.