A Repair Confirmation Report is done in conjunction with the borrower/owner’s request for escrow disbursement. A physical site inspection is performed to independently verify the completion of the recommended repairs and/or replacements. The scope of our RCR includes the following:
Physical Site Visit
AEI’s RCR includes a physical site visit to observe the completed repairs and/or replacements in regard to overall general quality of the work performed and a review of the request for escrow disbursement. The site visit(s) will be performed at a frequency requested by the Client. The site visit will include an interview with a representative of the borrower/owner to discuss completed repairs and/or replacements, and the future schedules for completion. Our services are not intended to replace or to perform the work of local building code compliance officials, quality assurance consultants, LEED consultants, or owner’s representative services on your behalf.
Request for Escrow Disbursement Review
AEI will review the request for escrow disbursement. AEI will review the request for escrow disbursement from the borrower/owner and to ascertain if the work for which funds are requested have been completed. We will review conformance and evaluate consistency of the request for escrow disbursement with the previous recommendations. We will visually review the completed repairs and/or replacements.
The RCR is generally prepared within 5 business days of the completion of the physical site visit. The RCR consists of a report summarizing site observations, interviews and review of submitted documentation along with photos. We will provide recommendation on whether or not to release escrows. If necessary, recommendations for reduction of requested funds will be made.