Construction Draw Videos
A relatively new concept in using video is for a lender to confirm completed work on a construction site by the use of a Construction Draw Video.
It is not uncommon, and as a matter of fact usually the case, that a lender is from a different area, and many times a different state, from where the project is being built. The bank's inspector is, many times, a young person from the bank who knows nothing about construction.
The procedure is simple: When the builder has completed the work which is required to draw down on the construction loan, he calls for a draw of "X" amount of dollars. The videographer is tasked by the lender to go out and video tape the items on the required work or material list. The videoc, along with a signed certification of the inspection, is sent back to the lender for their further action.
Construction Draw Videos ensures the lender that the draw request was made in accordance with expected work done, or materials received.
Stockton Legal Video Services is a member of the Builders Exchange of Stockton.
