enders and investors managing damaged or rehabilitated properties face a common challenge: how to verify that repairs have been made before releasing funds. Ensuring that each draw request is supported by the actual status of repairs is essential for risk mitigation and compliance.
That’s why Stewart Valuation Intelligence (SVI) developed the Insurance Inspection Report (IIR) a targeted solution designed to validate repair progress and support smarter, faster draw disbursements.
What Is the Insurance Inspection Report (IIR)?
The IIR is an on-site inspection focused exclusively on insurance repair items. It confirms the percentage of completion for each item and supports accurate calculation of the draw amount.
Who Uses It?
- Lenders and investors holding mortgage notes on properties that have sustained significant, value-impacting damage.
- Often used post-disaster or following insurance claims where draw release is tied to repair milestones.
How Is It Different from a Standard Property Inspection?
Unlike general property inspections, the IIR is narrow in scope and based solely on repair items submitted by the client. No other areas of the property are evaluated.
The Inspection Process
1. Assignment and On-Site Inspection
- Who performs it? A licensed Broker from the SVI national panel.
- What’s inspected? Only the specific repair items identified by the client.
2. Review of Repair Items
- Brokers receive a repair list or document from the client.
- Using SVI’s platform, they complete a guided inspection report based on that list.
3. Photo Documentation
- Each repair item is photographed.
- Photos are uploaded and tied to the inspection report in the SVI system for full visual verification.
4. Completion Estimates
- Brokers provide an estimated percentage of completion per item.
- Estimates are based on their industry expertise, using a standardized 0–100% scale.
What’s Included in the Final Report
Clients receive a clean, concise report that includes:
- Itemized list of repair work
- Completion percentage per item
- Budgeted cost per item (client-provided)
- System-calculated draw amount per item
The platform automates calculations and organizes all data in an easy-to-review format, reducing back-and-forth and simplifying draw decisions.
Key Benefits to Clients
- Streamlined draw process with clear, actionable data
- Reduced risk through verified progress reports
- Visual documentation for every repair item
- Faster funding decisions backed by standardized estimates
- Compliance-ready reports with audit trail
Ideal Use Cases
The IIR is ideal when:
- Properties have sustained storm, fire, or flood damage
- Insurance claims have been filed, and funds are released in stages
- Draws are needed during rehab or reconstruction phases
- A third-party, unbiased verification is required before disbursement
Want to see how the IIR works in action?
Contact our team to request a sample report, learn how SVI can support your draw process with clarity and confidence.
