Asset Management Products
Estimate To Complete (ETC)
Trinity can provide an estimate to complete on a partially completed construction project. This is done to determine the cost to complete or to provide recommendations such as TLC (torch, level and clear the project). Our Risk Management team, staffed with former builders, reviews the plans and specifications, builder’s contract, and lender’s cost breakdown. Each category is viewed in relation to the whole package for reasonability, missing funds, line items included in the appraisal but not the project budget, and unclear funds allocation across line items. A written assessment of the project assists in the lender’s disposition decision.
Foreclosure Assessments
Foreclosure assessments are designed to provide lenders with accurate information to determine how to address troubled assets within a construction portfolio. Lenders require an appraisal on the current and completed state of the construction project, coupled with a detailed cost estimate to finish the project.
Trinity coordinates the procurement of the specialized appraisals and reviews the property, in detail, to provide a complete foreclosure assessment that includes current photos of the property as well as a proposed budget to complete the construction project. Trinity’s foreclosure assessment helps lenders convert troubled assets into performing assets.
Property For Sale
A borrower or homeowner may “silently” list their residential construction property for sale prior to completing construction. Trinity offers a nationwide database lookup based on property address which will verify within 72 hours the status of the property.
Troubled Asset Management
The Troubled Asset Management services provided by Trinity customizes solutions to minimize financial loss on an unfinished, non-performing new construction property. Our staff of experienced builders manages all aspects of the project’s completion to make the property ready for sale.
Environmental Services
Trinity is pleased to offer four levels of environmental property assessments. Each is designed to evaluate the potential environmental hazards on subject property. Our specialists and partners are located across the nation and can handle residential projects of any size in any location.
Visual Property Assessment
A visual observation of the assessment site and structure to identify potential environmental hazards. The VPA is used for a basic initial scan of the site and surrounding area of the subject property. Available for property sizes of less than one acre.
Transaction Screening Assessment
This process includes a visual site visit to the subject property, interviews of the owners/sellers and limited research. The TPS is used when a limited assessment of the assessment site is adequate. If indicators of potential concern or risks are observed during the screening process, a Phase I ESA may be recommended.
Phase 1 ESA (Environmental Site Assessment)
Identifies environmental conditions that may impact the subject property. Evaluations include site visit, interviews, and collection and review of regulatory records, historical use, and site and adjoining property reconnaissance. The intent of this investigation is to determine if past or present uses of a property, or uses in the vicinity of the property, may have caused contamination of the assessment site. This assessment may recommend a Phase 2 ESA.
Phase 2 ESA (Environmental Site Assessment)
Identifies potential subsurface environmental conditions that may impact the subject property. Evaluation includes collecting soil and groundwater samples, interviews, and collection and review of regulatory records, historical use, and site and adjoining property reconnaissance.