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Cost Completion, Value Analysis
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Cost Completion Assessment
Our 30 years of design/build construction experience well qualifies us for conducting a cost completion estimate. We provide a detailed budget for work that needs to be completed or repaired. A construction schedule with the sequence of events identifying the critical path is established. As required, value engineering and cost alternatives with recommendations are made. Upon approval, Bove Company is available to proceed with completing the work.
In order to complete a successful real estate acquisition, proper due diligence is a must. Our first step is to complete and gather data pertaining to the property. This includes a thorough review of the survey, environmental reports, subsurface investigation reports, and appraisal. We review the title to be certain there are no lien defects. Our team conducts an inquiry with the local municipality is necessary to check the condition of permits, impact fees, water/sewer connection fees and the status of any outstanding real estate taxes. The condition of outstanding community development district bonds and/or homeowners’ association fees is also determined. Our research work includes a discussion with all parties connected with the property in order to obtain an understanding of the project history and current management status.
Market Analysis & Value Determination
A review of competing properties is conducted as a baseline comparison. The study includes a list and value of diferentition factors. The study includes a survey and compilation of market data containing the number of competing properties and absorption history in the specified market. This critical information is analyzed and used for market forecasting. Our property research, field inspection report, cost completion estimate, and the market analysis is essential to determining an asset’s value. A development budget is prepared to identify all costs necessary to either complete the project or move it through disposition. This data is used as the basis of for the pro forma analysis to determine the market value.
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