3 Important Aspects To Consider As You Set Up Your Fund Control Account
Here are the important factors to setting up a fund control account.
Thinking about setting up a fund control project? Today I’m sharing the three most important aspects of fund control projects to help you out.
The first one is making sure that you have a detailed cost breakdown or budget. The more detail in that budget, the more accurate your information will be.
The second thing is making sure that we have all of the information about that project. Is it multi-family, or is it residential? Is it commercial? What does it involve?
The third thing is making sure we have all of the contractor, owner, and lender contacts that are going to be involved in approving these draw requests. These are really important aspects in setting up these projects.
There are also two questions you should ask. First, is La Mesa going to handle the draw inspections? If so, we can certainly do that, and we’ll make sure that those are done accurately and in a very quick fashion. The next question you should consider: Are you going to advance funds for items such as lumber, windows, doors, and maybe even appliances? These are really important considerations given the environment today in construction.
The bottom line is that we’re here to help. Call us. We can walk you through the setup process, and remember, your success is our success. Thanks for checking out La Mesa Fund Control and Escrow. Have a great day.
