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Draw Inspections

What are Draw Inspections?

Commonly confused with phase inspections or HUD or 203K inspections, draw inspections, also known as progress inspections or completion evaluations, verify the advancement of a construction project whether it be residential or commercial for lenders. By cross-checking draw inspection reports against those of a contractor, banks can protect their investments.

For example, when an inspector finishes a draw inspection, their report helps confirm that the contractor completed their work before the bank disperses funds or draws.

An SMR draw inspections, will detail the:

  • amount of work completed for each project line item,

  • percentage of necessary materials on site, and

  • evidence of observations via photos and reports.

Industrial Building
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