Construction Loan Draw Inspection

Inspection template for verifying project progress, percentage of completion, and required lien waivers before releasing a construction loan draw.

Inspection Setup and Project Identification

• Project name, borrower, and property address match draw request
• Inspection date and site visit time recorded
• Requested draw amount recorded
• Current construction phase identified
• Plans, budget, and prior draw history reviewed before site visit

Work in Place and Percentage of Completion

• Observed work in place matches the requested draw scope
• Estimated overall project completion percentage
• Completion estimate is supported by visible installed work and site conditions
• Work completed this period is consistent with contractor invoice and schedule of values
• Any incomplete, defective, or out-of-sequence work identified

Draw Documentation and Lien Waivers

• Contractor invoice or pay application received and reviewed
• Conditional lien waivers received from contractor and applicable subcontractors/suppliers
• Lien waivers are properly executed, dated, and match the draw period
• Required supporting documents are complete
• Approved change orders are documented and reflected in the draw request

Site Conditions, Safety, and Code Readiness

• Site is reasonably secure and access is controlled
• Visible safety hazards present that could affect continued work or occupancy
• PPE use and basic construction safety practices observed
• Fire protection and life-safety provisions appear adequate for current stage of work
• Any code, permit, or AHJ-related issue observed

Funding Decision and Sign-Off

• Draw recommended for approval
• Conditions or deficiencies documented for funding holdback
• Inspector signature