Valuers are often requested to carry out a progress certificate subsequent to undertaking an initial valuation based on the construction of a proposed new dwelling or other building.
The Valuer will inspect the property during the construction process in order to estimate the percentage of works complete to ensure that the bank can safely issue progress payments as construction advances.
A final progress certificate will be provided once the proposed construction is complete and the Valuer confirms that the development has been completed, as per the initial plan and specifications indicated for the original valuation.