Draw creation based on an inspection enables you to quickly notify the lender that you are ready for a disbursement without having to provide an extensively detailed request. When submitting a draw based on inspection, you are requesting the lender to disburse based on the completed inspection.
Follow the instructions below to complete the draw submission process:
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- Navigate to the Draws subtab of the loan and select Draw Request from the + New dropdown button.
- Next, select the Draw Type (First Draw, Progress Draw, Final Draw, or Miscellaneous Draw.)
- If your request involves a change order, you must submit the change order prior to the draw request. Click + Create Change Order to submit a new change order.
- If your request involves a change order, you must submit the change order prior to the draw request. Click + Create Change Order to submit a new change order.
- Select the draw workflow Request Inspection and click Next. This workflow option allows you to request funding based on the results of an inspection of the project.
- Note: Experiences are controlled by the lender and not all user's experiences will be the same. Some workflows may be disabled for your account.
- Note: Experiences are controlled by the lender and not all user's experiences will be the same. Some workflows may be disabled for your account.
- Select the payee from the Payee drop-down menu.
- If the payee is not listed, select Create New Payee.
- If multiple payees are necessary, you will have the option to add additional payees in a later step.
- On the right, upload any additional documents needed, such as invoices, permits, etc. Uploaded documents will be stored on the left.
- Enter general comments about the project status, then click Next to continue.
- Set your inspection preferences, including inspection options and scheduling.
- Note: Inspection options are controlled by the lender and not all user's experiences will be the same. Some inspection options may not be available for your account.
- If an inspection is NOT required, select No Inspection Necessary (if available in your inspection options.)
- If an inspection IS required, follow the steps below:
- Inspection Required:
- When an inspection is required, choose the appropriate inspection type based on the options provided.
- Select a scheduling option that works best for the inspection.
- Appointment Not Required (Soonest Available). This option does not require scheduling.
- If an appointment is NOT required, select the days and times when the property is available for inspection, along with the best point of contact for the inspection.
- If an appointment is NOT required, select the days and times when the property is available for inspection, along with the best point of contact for the inspection.
- Appointment Required. This option requires scheduling with the designated point of contact. The inspector will reach out to schedule a specific day and time to visit the property.
- If an appointment is required, select the best point of contact for the inspection, and add any additional special instructions.
- If an appointment is required, select the best point of contact for the inspection, and add any additional special instructions.
- Appointment Not Required (Soonest Available). This option does not require scheduling.
- Inspection Required:
- Note: Inspection options are controlled by the lender and not all user's experiences will be the same. Some inspection options may not be available for your account.
- When all inspection options have been completed, click Next to proceed.
- If you are ready to submit your draw request, choose Submit Draw Request.
- Sign the draw request electronically (if enabled by your lender.)
- Once your draw request is submitted, you can rate and review your experience, then click Done.
- Navigate to the Draws subtab of the loan and select Draw Request from the + New dropdown button.