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Feature Articles 2009

Preparing a Cost-to-Complete Study for Workout Purposes

As published in Real Estate Finance & Investment, December 7, 2009, Vol XV, No. 48
By Carl de Stefanis, P.E., President, IVI International, Inc.
Should a partially completed construction project be a candidate for a loan workout or become an REO, a cost-to-complete study is routinely prepared. The lender, however, should consider the study as a process to learn about both the asset and the borrower. To realize the most benefit, the study should be viewed as a collaborative effort amongst the lender, its consultant and the borrower.
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Closing Out Construction Projects

As published in Real Estate Finance & Investment, July 8, 2009, Vol XV, No.22
By Carl de Stefanis, P.E., President, IVI International, Inc.
These days, construction lenders are looking at just about every ongoing construction project as a potential workout candidate and themselves as possible owners. Closing out a construction project is now taking on importance because many loans may go through a period of forbearance prior to foreclosure or receipt of the deed-in-lieu.
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Let's Get Physical: 7 Tips for Brokers Involved with Property Condition Assessments

As published in Scotsman Guide's Commercial Edition, May 2009
By George Wilson, Vice President, IVI International Inc.
Seasoned mortgage brokers know that gathering as much information as possible about a transaction before it closes makes sound business sense. One major consideration is the subject property's physical condition.
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Considering Taking Possession of a Construction Project

As published in Real Estate Finance & Investment, April 27, 2009, Vol XV, No. 16
By Carl de Stefanis, P.E., President, IVI International, Inc.
Lending money is an inherently risky activity. Construction lenders know this better than most—from cost overruns to poorly crafted construction documents to changing market conditions, there are numerous ways a construction loan can go sour.
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Construction Costs Could Plunge by as Much as Twenty Percent This Year

As published in The Niche Report, April 9, 2009
By Robert Barone, R.A., Vice President, IVI International Inc.
Without a doubt, the scarcity of new construction financing, the skittish mood of project sponsors, and the discomfort of developers and investors to begin or move forward with new building projects, have combined for an overall bearish sentiment in the real estate business. During the past six months, for instance, IVI International, Inc. has been tracking the drop off in new construction - and it seems like activity has come to a complete stop.
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