QUANTITY SURVEYOR BANK REPORTS

Has your bank requested a "Quantity Surveyor Report" or an "Independent Advice Report" as part of your residential construction loan application?

It is becoming more common that banks, mortgage brokers and other financial institutions request that homeowners provide a Quantity Surveyor Report (QS Report) for residential bank loans to accompany their applications.  These could be either an owner loan (to finance the construction) or a construction loan (for a builder or owner-builder). 

These reports are required as the initial stage to provide an independent professional opinion of construction cost. This is for the lender to ensure that construction costs are fair and reasonable, and the bank isn't over-lending or under-lending. 

In addition, they may also require a review of payment stages  or have the owner provide a QS progress claim report before they will release funds. This report is required to ensure that the payment the builder is requesting for a milestone payment stage is in line with the payment schedule and contract and a fair description of works complete.    

We are able to prepare detailed and accurate  reports in accordance with your bank's requirements including but not limited to:-     

• Preparing initial cost estimates and quantity surveyor report 
• Attending the project site to inspect progress of the works 
• Prepare progress claim reports for bank drawdowns in accordance with the contract including works complete, cost to complete and payment recommendation   

Contact us so we can discuss your requirements.