Ever wondered what Appraisers use to report to Banks what percentage of construction has been completed for a draw inspection? Download is below
PDF: PROGRESS REPORT OF BUILDING UNDER CONSTRUCTION Percentage Checklist Home Appraisers use for draw inspections.
I’m adding this here after a question this morning: How do I know when an under construction has reached 90% completion?
Attached form is based on points per item completed with the goal to reach 100 at bottom. During “draw inspections”, Banks or Lenders have Appraisers go out to make 3 to 5 inspections and report back the percentage of build progress. When building progress reaches the next increment set by the Bank, then they issue the next installment of money to fund the build. This is the sheet Appraisers use to judge percentage of progress.
I’ve attached the document here and it’s also on Slideshare: