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Trinity's feasibility analysis is conducted using the lender-provided scope of work and budget. Our report summarizes the project, provides a line-by-line analysis of the cost breakdown to ensure the project’s budget is feasible to complete the work described. Below are examples of Feasibility Analyses completed by Trinity.
Concern: Is the borrower's budget adequate for renovating and adding an addition to his home?
Assessment: Trinity's risk team visits the property to estimate the cost of renovation and compare to the homeowner's budget.
Outcome: Trinity's Construction Management Specialists found that the original budget was inadequate to complete the scope of work proposed. After Trinity's revisions, the renovations were feasible and completed within a new budget of $96,800. Additionally, Trinity provided progress inspections for the lender throughout the home's renovations.
Brooklyn Park, MN
Concern: Is the lender’s budget for repairing a REO property in Brooklyn Park, MN adequate?
Assessment: Trinity visits the property to assess the work to be completed. Example items specified in the budget include replacing drywall, cleaning vandalized interior and repairing siding.
Outcome: Our Construction Management Specialist concluded that the budget appears adequate to complete the work as proposed.
Concern: Does the contractor's budget adequately reflect the scope of work to be completed on on this property renovation?
Assessment: Trinity's risk management team physically evaluates the property and assesses the cost of all items to be renovated. Example items specified in the budget include repairing stucco, installing new appliances and replacing subfloor and sheetrock.
Outcome: During assessment and inspection of the property by our Construction Management Specialists, signs of mildew were observed in the media room from water damage. The proposed budget was expanded to address these repairs. After our proposed revisions, all renovations are now feasible and being completed within a new budget of $41,238.
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