Construction Services

Our goal is to identify physical and financial construction risk that could lead to collateral impairment.

From planning through completion of the collateral, we provide stringent quality control products and services to make sure the project is completed as appraised and as your borrower has envisioned.

Plan, Specification and Cost Review (PSCR)

This service will determine if the hard cost budget is adequate and reflects the work shown on the project plans and if your project can be completed according to schedule and scope. Contract and permitting issues will be clearly identified. This review is conducted by construction specialists and professional engineers.

Product features:

• Review of construction drawings, hard cost estimates, contracts, permits, budgets, surveys and schedules
• Comparison of hard cost estimates to various databases for entire construction project
• Identifying issues which could negatively impact project budget or schedule
• Provide risk-mitigating recommendations, including assessment of project contingencies

Construction Monitoring

This service includes periodic inspections based on schedule and lender requirements to provide physical confirmation of progress and appropriateness of funding. Service features:

• Monitoring conducted by experienced construction professionals
• Verification of contractor payment requests
• Review of lien waivers and change orders if requested by client
• Schedule tracking as needed

Property Condition Assessment (PCA)

This report provides a physical inspection of building and site systems and components along with projections for repair or replacement costs associated with any deficiencies identified during our investigation. It is completed in accordance with latest ASTM or client standards and can be tailored to meet client or project-specific needs. 

Report features:

• Inspection and evaluation conducted by experienced construction professionals
• Descriptions of current structure and systems as well as a cost reserve analysis and photographic documentation

Property Inspection Report (PIR)

This report is often used in lieu of the more expansive PCA engineering study. It provides an evaluation of current conditions and recommendations for immediate repairs or improvements. Report features:

• Limited scope site inspection as compared to ASTM Property Condition Assessment
• Overview of property condition and expected repair and maintenance with photographic documentation of identified issues

Peer Review Services

LCS provides peer reviews of Property Condition Reports, Plan, Spec and Cost Reviews and Draw Inspection Reports.  Reports are reviewed to determine adherence to ASTM and/or industry standards and accuracy of the findings and recommendations.  Recommendations to the Lender are provided where deficiencies are identified in the subject report.

Construction Owner’s Representative

Construction projects are incredibly complex and include a variety of participants.  This can ultimately lead to schedule delays and budget overruns if not properly managed.  Let LCS act as an extension of the project owner from project inception to completion.  The service includes(but is not limited too):

• A/E design team procurement
• A/E RFP/RFQ process
• Design input and assistance
• Constructor sourcing and selection
• Municipal interaction
• Coordination of Owner/Design Team/Constructor during preconstruction and construction
• Assist with project turnover and closeout

Construction Management Advisory Services

LCS offers Construction Management as an Advisor (CMa) services, acting as an extension of the project owner to oversee construction projects from inception to completion. Our CMa services include procurement of design teams, coordination among stakeholders, and assistance with project turnover and closeout, ensuring projects are completed on time and within budget. This approach helps mitigate risks and streamline operations throughout the construction process.

Learn more about our Construction Management as an Advisor services

Construction Outsourced Management

LCS supports lending institutions in managing construction-related risks and ensuring regulatory compliance with: 

• Project Scope & Compliance Consulting – Helping lenders define and monitor construction policies for regulatory adherence. 
• Vendor Oversight & Management – Establishing approved vendor lists and monitoring construction progress and compliance. 
• Due Diligence & Reporting – Conducting Plan, Specification, and Cost Reviews, Property Condition Assessments, and peer reviews. 
• Bid & Award Administration – Simplifying the procurement process for construction projects. 
• Training & Risk Management – Providing updates on construction due diligence regulations and best practices. 
• Cost Efficiency Strategies – Identifying opportunities to reduce costs and improve revenue from construction due diligence services. 

Construction Resources

View select articles from our subject matter experts.