Construction loan monitoring for South Jersey lenders.
Plan & cost reviews, monthly draw inspections, and cost-to-complete reporting — done by a local construction operator with thirty-plus years in the work. Not a call center, and not an inspector sent in from out of state.
When a construction loan is open, somebody independent has to stand on the site and say whether the work billed is the work in place — and whether enough money is left to finish the job. That’s the work I do for lenders in Cape May County and the southern Jersey Shore.
I’m Jay Maher. I’ve owned and operated real estate in Wildwood Crest for thirty-plus years, run construction operations, and sat on the owner’s side of the table for residential and small commercial builds. I know these towns, these builders, and how a Shore project actually goes — flood and elevation rules, seasonal schedules, and all.
Plan & Cost Review — before closing
Plans and specs checked for completeness. Budget checked against the contract and current pricing — is it balanced, is contingency real, does it cover permits, fees, and FF&E where they belong. Schedule checked against the loan term. Contractor checked for relevant experience and workload. You get a written report and a clear recommendation, plus a baseline budget to judge draws against.
Construction Loan Monitoring — during construction
A site visit for each draw. Percent complete by line item, tied to the schedule of values and the pay application. Photos. Stored materials verified. Change orders reviewed before they’re funded. Budget remaining against cost to complete — is the loan still in balance. Report ends with a plain recommendation: fund, fund reduced, or hold, and why.
Order of operations — checked with every draw
Before the first draw, I review the builder’s sequence of work and the draw schedule against how a building actually goes together, stage by stage, with the inspections each stage needs. That sequence becomes the standard the draws are judged against.
Then, with every draw request, the order gets checked — not just the percentages. A builder shouldn’t be requesting drywall money when the rough mechanicals — plumbing, electrical, and HVAC — aren’t finished and passed inspection. Once the board goes up, that work is covered, and nobody can verify it was done right. If a line item is requested out of sequence, the recommendation is to hold that item until what belongs before it is complete and inspected.
Draw Inspections — residential and private lenders
The lighter product for 1–4 family and private loans: site visit, percent complete by line, time-stamped photos, short report.
Troubled and Completion Projects
When a project stalls or goes sideways: an independent look at what’s actually built, what it will cost to finish, and what finishing would take. Then monitoring through completion if the loan continues.
Independence
On a loan I monitor, I work for the lender alone. I don’t act for the borrower or the developer on the same project, I take no fee from the contractor, and I disclose any prior contact with the borrower or builder before I accept the assignment. That policy is in writing and goes in the engagement letter.
Based in Wildwood Crest. Regular coverage across Cape May County and the southern Shore — see the Where We Work page for the towns and what building looks like in each one.
Start with one plan & cost review. It’s a flat fee, it’s a report your file needs anyway, and it shows you my work before there’s any talk of a panel or a list.