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Closeout Document Checklist Calculator
Closeout documents required before final retention release.
Retention withheld
$90,000
Documents missing
6
Completion %
0.76%
How the math works
Missing docs = required − received. Retention withheld = missing × rate.
25 − 19 = 6 missing × $15k = $90k retention withheld pending documents.
How to Use
- Enter total documents required.
- Enter documents received.
- Enter retention withheld per missing doc.
- Read retention withheld.
Frequently Asked Questions
Typical closeout documents?
As-builts (final updated drawings). Operation & Maintenance (O&M) manuals. Warranties (all equipment). Certificate of Occupancy (CO). Final inspection reports. Lien waivers (all subs). Spare parts list. Test reports. Equipment commissioning records.
Why withhold retention?
Without as-builts: owner can't maintain. Without O&M: tenant can't operate. Without lien waivers: title risk. Without CO: can't occupy. Without commissioning: equipment may not perform. Missing documents = incomplete project.
Typical retention structure?
5-10% per missing document up to 100% retention. Structured to compel contractor to deliver everything before final payment. Owner holds until everything received — creates strong completion incentive.
How often should I rerun this?
Rerun this calculator whenever inputs change materially — new rent roll data, rate moves, loan balance updates, or quarterly operating data. For active deals, monthly refresh is typical. For stabilized assets under monitoring, quarterly is fine. Treat the output as a decision tool, not a one-time answer — market conditions evolve and so should your analysis.
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