Owner's Representative
Scenarios
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Residential Services
Scenario 1: New Home
Client
purchases a property to build a home or develop an income
producing property.
In this
instance,
BTG
can provide the following services:
●
Take the
lead and/or assist the Owner with selection of the architect, general
contractor project team, and other consultants
●
Assist
legal counsel in drafting agreements/contracts which
will include control documents that will be used to monitor
project progress (costs and time)
●
Oversee all
consultants, manage the project, and be the one point of contact
for the project team so the Owner does not have to take
time out of his/her schedule to deal with project issues
Scenario 2: Stalled Project
Client has a
project currently under construction that is in trouble.
Examples of
this include a project under construction where the
contractor is over budget and/or behind schedule, or the
contractor needs to be replaced due to fraud, bankruptcy or
other reasons.
In this
case, BTG can provide the following services:
●
Evaluate
the situation, determine the issues, and set a plan in place to
implement changes.
●
Work with
the appropriate individuals or entities to make the necessary
changes.
●
Implement
and manage those changes to make sure the project
gets back on track.
Scenario 3: Property Potential
/ Evaluation
Client has an
investment and is trying to understand the property's value.
Example: An
institution or investor may need to determine if they should
continue to fund a project or sell their interest to a partner
or third party.
The
services BTG would provide are:
●
Prepare a
cost and feasibility analysis to determine the actual costs to
complete the project versus what has been spent to date.
●
Work
with the appropriate firms and/or individuals in obtaining
market data.
●
Create a
financial model to determine a project's internal rate of return
(IRR).
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