Helpful insights and suggestions for modern construction loan administration
As construction and development needs continue to grow, it is clear that people will need help keeping up with what is becoming a faster paced world. While technology may be the exact opposite of real estate, it is exactly what real estate and construction need to embrace to compete in the current economic and employment environment.
If you think about software as leveraging and supercharging our individual abilities, it is easy to envision where it can help. Whether it is manually transferring information into an Excel spreadsheet or reviewing previous draw requests to confirm adequate lien releases, software can give you the same piece of mind at a fraction of the time.
At the end of the day, time is the only resource we cannot make more of. The amount of time it takes to review a draw – to confirm documentation – to transfer a payment – to communicate approvals internally…is spending a valuable resource.
Engineering and construction trades wait on average 73 days to be paid while we live in a society that thrives on instant gratification. This gratification is possible with software.
In this guide, you’ll find over a century of best practices in construction loan administration and how software can begin to improve the process. We have condensed this complex world down into practical suggestions to empower you and your business with the right tools to start your construction loan software journey.
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