Texas is more than a place; it is an identity.
And everything in Texas conjures a sense of possibility, from its wide-open spaces to its vibrant cities to the independent spirit of its residents. Spanning roughly 268,000 square miles with a population of more than 29 million residents, Texas is a place long associated with opportunity and growth, and people from coast to coast are making their way to the Lone Star State to live, work, and invest in Texas’ most prized natural asset — real estate.
Over the past few years, large companies from finance to Big Tech have put down roots in Texas, and with more jobs has come a greater demand for everything from commercial infrastructure to housing. According to the Emerging Trends in Real Estate 2022 report from PwC and the Urban Land Institute, Texas is home to 4 of the top 12 markets with the best home building prospects.
QuickDraw Fund Control is proud to be a construction fund control partner to builders, contractors and lenders in Texas and other key markets across the nation.
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QuickDraw Fund Control Services:
Due Diligence
Due diligence begins when a borrower executes a lender’s term sheet. QuickDraw Fund Control helps lenders to further reduce risk by validating the sufficiency of project costs that have been submitted for underwriting. When delivering due diligence in fund control, QuickDraw Fund Control takes every precaution necessary by researching the borrower and general contractor, and visiting the borrower’s project site.
Budget Cost Review & Analysis
A cost review is a process by which a construction lender engages a third-party fund control company to help reduce risks arising from issues like inaccurate budgets and completion schedules; incomplete plans; and insufficient understanding of the building costs. QuickDraw Fund Control provides a complete and objective analysis and review of the project budget outlined by the borrower so the lender may underwrite the loan with confidence.
Loan Portfolio Inspection
Loan portfolio inspection is a critical function of due diligence. At any time during a project, QuickDraw Fund Control can review and analyze a borrower’s construction loans to obtain relevant trend information about both the borrower and the marketplace. We address two common questions: Are projects performing on schedule? Are cost overruns prevalent? With this information, we help lenders categorize the level of risk they would undertake should they decide to issue the loan.
Site Inspections
QuickDraw Fund Control employs trained inspectors to investigate and report on the progress of a construction project. This process includes in-depth site inspections to ensure all services agreed upon from the start are being executed properly and according to the construction schedule. Generally, site inspections resume after a draw request is received. A team of inspectors travel to the site and conduct an inspection to provide information that either supports or questions the draw request.