Construction Cost Analysis
The GRS Group Project Management Unit coordinates workout site inspections for REO properties to determine construction progress. The project information is evaluated and a cost to complete schedule is calculated based on the inspector’s findings. We then assign a project risk rating and make a recommendation to finish construction, suspend activity, or remove the existing structure.
Construction Risk Mitigation
Our Construction Risk Mitigation team has experts around the globe experienced in the management of construction lending risks including default management, construction workouts, nonperforming assets and REO servicing, Many of our
professionals have backgrounds in construction lending and have work at leading financial institutions. Our unique insight and processes allow us to head off problems before they start.
We serve as Project Manager and Owner’s Representative to ensure completion of construction projects. During construction, our Project Management Unit will establish a schedule for status inspections to monitor the contractor’s progress, review and recommend draw requests and perform risk management reporting and tracking.