Progress payments and construction valuations differ greatly from standard residential valuation work.
Progress inspections are typically required by financial institutions to fund a property under construction. In some cases, requests for progress inspections may come from the owner of the property being constructed. The purpose of requiring a progress inspection is to confirm that the builder’s claims for payment throughout the construction process are in-line with the actual costs expended. Most importantly, progress inspection reports are to ensure that there are sufficient funds remaining in the allocated budget to complete the construction — if the builder stops work for any reason, these retained funds should be enough for another builder to complete the project.
Construction valuations require the valuer to assess a future value of a proposed construction project. This comprise an entirely new home or other type of building or an extension to an existing building.
Completion of this course provides 12 CPD points.
$450 including GST