DOCUMENT CHECKLIST

Construction project document checklist

For land, servicing and vertical construction financing on a residential or mixed use project. Construction lenders fund against cost to complete, so the budget is the centre of the file.

All checklists

A construction file is judged on three things: whether the budget is real, whether the builder can finish, and how the loan gets repaid. Every document below serves one of those. Bring the project to the Deal Desk before the builder commits to a marketing plan or a lender.

The land

  • Purchase agreement or title showing ownership and any existing charges
  • Appraisal of the land as is and as complete, if available
  • Zoning, development permit and any conditions attached
  • Servicing status and any servicing agreements with the municipality
  • Environmental report if the site history warrants one

The project

  • Full budget: hard costs, soft costs, contingency, interest reserve, land
  • Cost to complete schedule and the proposed draw schedule
  • Architectural plans, specifications and the building permit or its status
  • Fixed price or cost plus contract with the general contractor
  • Quantity surveyor engagement, or the lender's preferred surveyor
  • Construction timeline with milestones

The builder and the borrower

  • Corporate documents and the ownership structure of the project company
  • Builder resume: completed projects with addresses, values and timelines
  • Corporate and personal financial statements, net worth and liquidity
  • Proof of equity in the project and where it came from
  • Builder licensing and warranty enrolment as the province requires
  • Credit consent for the borrower and guarantors

Presales and takeout

  • Presale contracts and deposit summary, or the rental plan if the building will be held
  • Marketing plan and any presale requirement from the lender
  • Takeout plan: sale proceeds, a rental takeout lender, or a refinance on completion
  • Proposed loan amount, term and how interest will be carried

Have a builder waiting on an answer?

Send the budget and plans to the Deal Desk through the portal, or book a discovery call if you are not yet a broker here.

Book a discovery call