“Let GCI alleviate your risk with quality construction inspections.”
Building a business or your dream home, though exciting, presents many challenges. Although you may be familiar with the traditional mortgage process, a construction mortgage includes additional elements of risk. The construction experts at Granite Construction Inspections (GCI) utilize standardized processes and web-based technology to aid you in the completion of your project.
Working with a Financial Institution:
When GCI works on behalf of the financial institution, our role is to ensure all subcontractors and suppliers are paid in a timely fashion in accordance with the approved budget.
In a typical construction project, the contractor will request funds when work is completed. In order to confirm the work is in place, GCI will request a site inspection from a qualified local inspector, to protect the financial institution's interest. This important process substantiates the collateral value of the home in progress.
As the experts in construction lending, GCI is able to manage the most difficult projects while meeting your contractor's needs. GCI understands the importance of quickly turning around draw requests and maintains a high level service standard.
Working without a Financial Institution:
Many times an owner will build their dream home without the use of financial institution funds. This presents unique challenges as the owner must manage the additional responsibility of ensuring all subcontractors and suppliers are paid in a timely fashion.
The owner must also understand the statutory documentation requirements in their state. If the draw process is not properly managed and the contractor does not pay the subcontractors and suppliers, the homeowner may be subject to mechanics’ liens.
To mitigate your risk throughout the fund control process, consider directly contracting with GCI. The construction process is a complicated one and GCI's fund control services will ensure all subcontractors and suppliers are paid so that you don't have to pay the bill twice.
For more information on GCI’s products and services contact us via email or toll-free at 866.380.9504.
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