QuickDraw Fund Control Completes Residential Construction Project in Half Moon Bay, CA
With stunning views of the ocean, Half Moon Bay is one of the most beautiful and desirable places to live on the California coast. Needless to say, when contracted to provide inspection and fund control services for a residential construction project in this seaside community, our team at QuickDraw Fund Control was extremely excited to take on the project.
This project had a unique set up, as the residential home is being built by the owner/borrower, who happened to be a general contractor. This house would become his new personal residence in Half Moon Bay. The main structure of the single-story ranch style home features five bedrooms and four bathrooms, totaling 4,000 square feet. It also has a separate barn/garage combo on site. The property is in a prime location near the oceanfront and has expansive pastoral views. There aren’t many other homes nearby, so it feels like a private getaway for the owner and his family.
The construction loan was provided by Preferred Bank San Francisco. Vice President Elsa Chen served as the Relationship Manager for the client. QuickDraw Fund Control has handled other projects with Preferred Bank San Francisco over the past three years. Preferred Bank is a leading lender, providing real estate, construction and commercial loans to qualified borrowers. This particular loan helped the bank launch a satellite office to better serve the more isolated Half Moon Bay market.
We at QuickDraw Fund Control provided fund control and inspection services throughout the construction process. Once the construction loan was approved, our team began processing draw requests as each phase of construction progresses. In addition, on-site inspections were performed to ensure that the reported progress was being properly documented and discussed with the Borrower. Detailed reports, photographs, and approved back-up were provided to the lender before funds were released.
This is QuickDraw Fund Control’s first project in the Half Moon Bay area and we certainly hope it’s not the last. Whether it’s a new home construction, major home renovation or commercial development, we can provide the necessary fund control, home inspection, and construction budget outline analyses. Our team is reliable and very attentive to all aspects of the fund control process, which is exactly what you need to protect your loans.
For more information about QuickDraw Fund Control, give us a call today at 909.986.7405.