Our cost control service allows the lender and the borrower to benefit from rigorous monitoring of the progress of the costs for buildings under construction or undergoing major renovations. Our team supports real estate developers throughout their project’s construction process to ensure the smooth progress of the mortgage disbursements. Our mandate consists of producing an initial audit report as well as monthly interim reports for cash advance requests.
Initial audit report
The objective of the initial audit report is to validate the economic feasibility (costs) and the construction process of the project in question. To do this, an exhaustive reading of the financing offer must be carried out to highlight each of the project’s financing conditions. Then, through a narrative report, our team of experts analyzes and comments on each of the conditions highlighted in the financing offer.
Monthly interim reports for cash advance requests
Interim reports are produced once a month. Before the first mortgage disbursement, we verify that the borrower has invested the necessary amounts to cover the project’s down payment and that they meet the requirements of the financing offer at all times. With respect to subsequent disbursements, we verify that the costs to be completed for the project are in line with the funding envelope validated during the initial report and that the amounts disbursed by the lender were used to pay for costs related to the project.
As a CIQS-accredited consultant, GDA is proud to provide cost consulting services across the province of Quebec. Its team consists of chartered appraisers, cost economists, and appraisal technicians with many years of experience in cost control and construction site monitoring.
Our other services
We will support you in the dispute and pre-filing negotiation process to ensure that you are paying your taxes on a fair basis.
Useful to condominium syndicates, this service allows for sound contingency fund management, thereby ensuring the accumulation of the capital required for major repairs to be completed on the building in the future.
We handle several types of property assets (multi-tenant, commercial, industrial, land, institutional) for the purposes of mortgage financing, purchase, sale, liquidation, estate division, internal management, etc.
For reasons of public interest, the State can force an owner to transfer their property to it. Our team’s role consists of determining the indemnity—that is, the value of the expropriated property and the compensation for the damage resulting from the expropriation.
Thanks to our privileged relationships with a large number of real estate stakeholders, we can help you position your real estate project on the market.